Sunday, 18 August, 2019

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F45 co-founder Adam Gilchrist pays Freshwater record $14m for neighbour’s home


F45 co-founder Adam Gilchrist paid $5.4 million for the cottage on the left, then $14 million for his neighbour’s modern home on the right. AAP IMAGE/ Tim Pascoe

F45 co-founder Adam Gilchrist has smashed the Freshwater record by more than double, snapping up his neighbour’s home after they objected to development plans.

Mr Gilchrist, and his wife Eli, paid $14 million for their neighbour’s house on less than 400sqm of land after the neighbours disputed their plans for a new property.

RELATED: Wategos House in Byron Bay sells for record $18.85m

In November 2017 the businessman spent $5.4 million sight unseen on an original beach cottage on Ocean View Rd just footsteps from Freshie sands.

The original cottage in Freshwater which sold for $5.4 million.

The following year the couple sought council permission to build a two-storey house with rooftop pool and terrace at the Ocean View Rd address. Several neighbours objected to the development saying it didn’t comply with building height or boundary controls.

Now data from CoreLogic reveals that Eli Havas, Mrs Gilchrist’s maiden name, then bought the objecting next-door neighbour’s house for $14 million. The sale went through in December 2018 and has now settled. The new house is on 386sqm of land and last traded for $800,000 in 2003.

The Gilchrists bought the house circled in 2017 and have now purchased the modern house next door, close to the sea.

Celebrity Mark Wahlberg, pictured here with co-founder Rob Deutsch, has invested in F45. Source: Instagram f45_training

Documents from Northern Beaches Council show that several people living near the Gilchrists’ home objected to their $2.5 million development plans and were worried about plans to excavate below street level. In the end the Gilchrists withdrew their application and council closed the matter earlier this year.

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The sales price is more than twice the record for the suburb. According to CoreLogic the previous record for Freshwater was $6.05 million for a 2751sqm development site in Wyndora Ave. The highest price for a single house was $5.9 million for a house in Brighton St which traded in March 2018.

The impressive Wategos House in Byron Bay which the Gilchrists bought in March this year.

The splashing of cash continued this year when the fitness pair, both associated with F45, spent $18.85 million on a trophy home with water views in Byron Bay.

That brought their total spend to $38.5 million on three beachside properties in the State since November 2017.

Freshwater’s new record of $14 million is twice that of the previous record.

Meanwhile the people of Freshwater are agog at discovering that their suburb’s record has doubled with one sale. It is a record that is likely to stand for a long time.

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But people living in Ocean View Rd are now wondering what plans the recent purchasers have for a combined site of 796sqm with a point blank view of the ocean.

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