F45 gym co-founder Adam Gilchrist sells Freshwater home to enjoy profit of $8.7m in five years – realestate.com.au

F45 gym co-founder Adam Gilchrist sells Freshwater home to enjoy profit of $8.7m in five years - realestate.com.au

Mark Wahlberg (L) and F45 Founder and CEO Adam Gilchrist pose on the buying and selling ground as F45 Coaching rings the opening bell on the New York Inventory Alternate on July 15, 2021 in New York Metropolis. (Picture by Noam Galai/Getty Photos for F45 Coaching)

F45 fitness center co-founder Adam Gilchrist has bought his first Freshwater property 10 days earlier than it was as a result of go to public sale with a bought sticker going up late Tuesday afternoon.

The three-bungalow cottage with point-blank views of the surf had an public sale information of $7.9m to $8.5m so an early sale suggests Gilchrist bought on the prime finish of that vary.

If that’s the case, he has made a tidy $8.7m in 5 years from his two beachside purchases – though he didn’t handle to construct his dream residence there.

50 Ocean View Rd, Freshwater.

The fitness center guru first purchased in Freshwater in 2017 paying $5.4m sight unseen for 50 Ocean View Rd.

The big public sale crowd was gobsmacked on the value, $1.3m above the reserve and at a time when the median home value in Freshwater was solely $2,315,000.

A yr later he hit the headlines once more, this time paying $14m for his neighbour’s off-market home, 52 Ocean View Rd, and greater than double the suburb file on the time of $5.9m.

In two years Gilchrist paid $19.4m for 2 side-by-side properties in Ocean View Rd however his plans for a brand new three-storey residence with pool by no means got here to fruition.

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The house has bought 10 days earlier than public sale.

In August he bought 52 Ocean View Rd, reportedly for $14.2m and now he has bought his first buy, the renovated cottage subsequent door.

Brokers Michael Clarke, Cherie Humel and Mike Dunn, of Clarke & Humel couldn’t be contacted for remark the day the Ocean View Rd cottage bought however they’d noticed earlier that Gilchrist’s record-breaking shopping for had lifted the bar on costs within the coveted basin of Freshwater.

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Gilchrist bought the house subsequent door in August.

After his plans for a dream residence on the 2 websites was quashed.

Brokers in 2018 shook their heads on the double-digit Freshwater sale saying it was an outlier value and unlikely to be matched for a few years. Nevertheless final yr 48 Ocean View Rd bought for $11.5m, additionally via Clarke & Humel.

Mike Dunn stated earlier within the marketing campaign that Freshwater Basin has change into its personal market and consumers look ahead to property to record within the coveted locale after which pounce.

“The Basin is a market to itself due to the proximity to the seashore and the village and the laid-back way of life it affords,” he stated.

Consumers have been very eager on the house.

It’s the final word summer season pad.

The three-bedroom cottage at 50 Ocean View Rd on 405 sqm of stage land has been renovated however there are additionally plans obtainable for a Walter Barda two-storey home if the purchasers wish to make the most of it.

“The property has generated huge curiosity from consumers from the higher and decrease north shore, japanese suburbs and abroad,” Dunn stated.

“Most of them are taking a look at it as a everlasting residence and lots of have an interest within the potential to construct their dream residence on the block,” he stated.

The bungalow is simply 20m from the seashore path, it has a north to rear facet with entertaining deck and jacuzzi. Inside there are excessive ceilings, oak flooring, an open-plan fuel kitchen, residing area with ocean views and a big eating room.

Mr Gilchrist has seemingly vanished from the public eye after shares within the embattled F45 fitness center franchise have plummeted and he stepped down as CEO in August.

In August Gilchrist bought 52 Ocean View Rd, reportedly for $14.2m.

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