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Sydney - Australian coal tycoon Nathan Tinkler put his thoroughbred breeding and racing empire on the market on Tuesday, saying he no longer had enough time to devote to the business.
Media reports suggested the package, which includes more than 1 000 horses on a 3,300-acre (1,335-hectare) property in the Hunter Valley north of Sydney and another 1,000 acres in Queensland, could fetch Aus$125m.
Singapore-based Tinkler, 37 - one of Australia's richest young entrepreneurs - said the sale of the franchise Patinack Farm would allow him to focus on his resources, port and rail, and property assets.
"As I am spending more time overseas, I do not have the time to manage the business... (It) represents a terrific opportunity for a local or international owner to develop the business to be a world leader," Tinkler said in a statement.
The sale of the farm, established in 2007, will be marketed and managed by Magic Millions horse auctioneers in conjunction with Ernst and Young, and is expected to take several months.
Magic Millions chairperson Gerry Harvey said the world-class stud had seen "considerable success in a relatively short period of time".
"I believe we will generate great interest from potential local and overseas buyers, seeking to either establish or build up their existing operations," he said.
Once Australia's richest man under 40, with a Aus$1.13bn fortune in 2011 built on a series of canny coal deals, Tinkler has hit hard times due to plunging commodity prices that has halved his worth to an estimated Aus$400m, according to the rich list compiled by BRW magazine.
He revealed last month that his family trust now had debts worth Aus$600 million and his taxable income for the 2011 financial year was just Aus$9 384 - all bank interest - according to media reports.
Tinkler was last month forced to sell his private jet and helicopter to pay creditors.
