A week after Eliza Park was placed on the market, Patinack Farm will be sold “lock, stock and barrel” by owner Nathan Tinkler.
Magic Millions has been in discussions with Tinkler for several weeks regarding the sale. “Nathan wants it to be a walk in, walk out deal, similar to what happened with Darley and Woodlands,” Magic Millions general manager Vin Cox said. “We have already had interest from international racing operations looking to expand to Australia.”
Patinack Farm’s studs are located at Sandy Hollow in the Hunter Valley and at Canungra in Queensland. There are 10 stallions on the rosters including Casino Prince, the sire of outstanding three year-old All Too Hard.
Patinack sold All Too Hard to Vinery Stud earlier this year following two reduction sales of its breeding and racing stock in 2012. Tinkler has also closed his interstate stables and remaining staff were advised of the imminent closure of its Randwick operation on Tuesday morning.
The mining entrepreneur burst on the racing and breeding scene in 2007 but has since suffered crippling financial setbacks. “I am spending more time overseas and do not have time to manage the business,” Tinkler said. “Patinack Farm represents a terrific opportunity for a local or international owner to develop the business into a world leader.”