Former F45 chief executive Adam Gilchrist has put his $14 million Freshwater home up for auction less than a week after the gym franchise’s US stock price plummeted on Wall Street.
Gilchrist, who resigned as chief executive last week, has been a prominent property investor in recent years, best known for his record high property price purchases from Byron Bay to Freshwater, largely fueled by the franchise of fitness training which he co-founded in 2013 with a gymnasium in Sydney.
In late 2017, Gilchrist’s wife, Eli Gilchrist (née Havas), bought a California bungalow in Freshwater overlooking the beach for $5.4 million without seeing it, paying $1.3 million on the reservation.
But it was the adjoining three-level contemporary home that reset local home price records when Gilchrist bought it in 2019 for $14 million as he planned to demolish it to make way for a swimming pool to go. with its bungalow next door.
No DA to demolish the house was ever filed with the Northern Beaches Council, and the DA to demolish the neighboring California bungalow to make way for a Walter Barda Design home at a cost of $2.57 million was later withdrawn.
The California bungalow shouldn’t be listed, but the record-breaking $14 million residence has been quietly offered to buyers for more than a year. He carries a mortgage from Macquarie Bank.
On Monday, just days after the F45 stock price hit a low of US$1.93, Michael Clarke of Clarke & Humel launched a sales campaign for the Freshwater residence ahead of an auction on Aug. 27.
Clarke offered “no comment” to inquiries, but marketing now refers to Gilchrist’s “demolition work” as a “state-of-the-art architectural design” on “an unparalleled beachfront setting.”