No deal: $8 million Noosa estate formerly owned by Thomas Muster slashed to $5.7 million

It may be Noosa’s most iconic country estate but the 35-hectare property originally built by tennis star Thomas Muster has had its sale price slashed by a whopping $2.3 million.

On the market since October last year, Cintamani is owned by Australian songwriter Mike Chapman, who paid $8 million for it in 2007. Chapman initially listed his property hoping for offers over the $8 million he paid 10 years ago, but has now decided to sell it at a considerable loss.

The property was originally purchased by Thomas Muster for $1 million in 1994, who then built the existing six bedroom, six bathroom home.

The tennis great sold it to Stephen Walker, the co-founder of debt collection agency Collection House, and his wife Sue for $7.6 million in 2002.

Marketing agent Tom Offermann of Offermann Real Estate says he’s loath to sell the property so cheap but was under instruction from Chapman.

“The seller has decided he has no plans to come back to the property and says he just can’t stop working; he’s buried in composing work in London studios,” Mr Offermann says.

“He’s now in his 70s and he just said to me ‘drop the price, let’s get it sold’.

“At $5.7 million, someone is going to get an incredible bargain.”

A neighbouring mansion dubbed “Eagles Nest” owned by billionaire investor Tony Fung has also been on the market since October last year. After originally asking $20 million, it’s now believed to be looking for offers in the vicinity of $13 million, “which makes this house look really cheap in comparison”, Mr Offermann says.

“At this price I’m expecting a tsunami of interest and a quick sale. There are 88 lucky number acres overlooking the ocean and Noosa — and you can be on the beach in just 15 minutes without passing a single traffic light to hold you up.” 

Along with the architecturally designed home, Muster also built a tennis court to competition standard.

There is a pool – a lap pool with an infinity edge, no less – an outdoor spa and a barbecue pavilion. The property also has a helipad, and a lake with a fountain.

Inside, all six bedrooms come with ensuites, including the separate maid’s quarters. As well as vast living spaces, the home includes a bar, a home cinema, pool room, a gym, and aerobics studio.

The location is also a plus: just 15 kilometres to Noosa’s Hastings Street with no traffic lights, and an eight minute drive from historic town of Eumundi and the same distance from Cooroy.