PHOTO: Rugby star Israel Folau has put the former Tinkler estate he and wife Maria bought in 2021 up for sale. YAHOO
Professional athlete Israel Folau, known for his talents in both rugby and Australian rules football, is putting his expansive 4-hectare estate in Brisbane up for sale. This property was acquired at a price significantly lower than what former mining magnate Nathan Tinkler paid for it 15 years ago.
Folau, who is gearing up to represent Tonga in the upcoming 2023 Rugby World Cup in France, along with his wife Maria, a former international New Zealand netball player, purchased the estate in 2021. They secured the property at a 25% discount compared to Tinkler’s original purchase price. The estate is situated adjacent to Tinkler’s former Pullenvale mansion, known as The Grand Post, and both were taken over by receivers as part of Tinkler’s asset liquidation in 2016-2017. Despite being sold for considerably less than the initial purchase prices, both properties have regained substantial value over time.
The 10-acre rural retreat owned by Folau, referred to as a “semirural escape,” was initially sold by receivers for $750,000 in 2017, a mere 40% of Tinkler’s original investment. Folau then acquired the property for $1.5 million. Meanwhile, Tinkler’s neighboring mansion was sold for $3.05 million in 2016, approximately $2 million less than its initial cost. The subsequent buyer managed to sell it for $6 million five years later.
While the Folaus’ countryside residence is more modest in comparison to the adjacent Tinkler mansion, it boasts three bedrooms, one bathroom, and a double car park. The property has been updated with modern features to maximize its scenic “bushland views and sense of privacy.” Real estate agents Alex Jordan and Zac Ryan from McGrath Estate Agents Paddington have listed the property for sale on realestate.com.au, with an anticipated price range of $1.75 to $1.95 million.
Given the current demand for real estate in Brisbane, particularly among affluent buyers seeking spacious private getaways near the city, the 4-hectare property has garnered significant interest. Located just 18 km from Brisbane’s central business district, the estate has attracted attention from both local and international buyers. The residence offers practical features like underhouse storage, parking, a utilities room, a rainwater tank, a shed, and access to a trail leading to Pullen Pullen Creek, which offers a 2 km bushwalk for outdoor enthusiasts.
This property represents the largest of three holdings owned by the Folaus in Brisbane. They acquired two other properties the previous year: a beachfront property in Redcliffe for $4.25 million and a four-bedroom rural residence in Logan for $1.28 million. To facilitate this portfolio shift to Queensland, the Folaus sold off their Sydney property in 2022, achieving a gain of $1.725 million from the sale of their home for $3.825 million. Additionally, they profited $190,000 from the sale of a one-bedroom unit in Little Bay, New South Wales, which fetched $1.15 million.