Nathan Tinkler's Brisbane estate sells at a loss

Struggling businessman Nathan Tinkler has reportedly sold his Brisbane estate for millions less than its purchase price.

The former mining mogul’s seven-bedroom mansion sold yesterday in the $3 million price range, according to media reports, a sharp fall from its 2007 purchase price of $5.2 million.

The 421 Grandview Road, Pullenvale, estate had been on the market since mid-2013 and failed to sell at auction last week.

However, John Dixon Quality Property are reported to have finalised a deal for the four-hectare estate on Thursday.

Agent John Johnson declined to comment.

The property has a large resort-style pool with a spa and includes  a gymnasium room, sauna and tennis court.

The sale follows Clive Palmer’s continued property clean out, having listed his Sovereign Island home for sale earlier this month.

Mr Palmer’s luxury mansion comes with five bedrooms, six bathrooms and parking for more than six cars.

Clive Palmer has listed his Sovereign Islands mansion.

Mr Palmer paid $1.75 million for the property in August 2011 in a third-party transfer; the previous owners bought the property in 2007 for $2.45 million.

Title records show the former member for Fairfax spent $43 million on the various properties over a 25-year period.