The founder of F45 has snapped up his $14 million beachfront home just weeks after being bailed out of the cult gym business amid the state’s financial turmoil.
- Adam Gilchrist sold his beach house on Saturday for more than 14 million dollars
- The property was sold on August 27 before it was due to be auctioned.
- Mr Gilchrist and his wife Ellie bought the house in 2019 after falling out with neighbours.
The founder of cult gym chain F45 has set a new local real estate record by selling his iconic beachfront building for more than $14 million — just weeks after his fitness empire fell into chaos.
Adam Gilchrist stepped down as CEO of F45 in late July after the stock price fell 61.5 percent and Jim had to lay off 110 corporate employees.
The company had less than $20 million in cash when it last filed its accounts, and Mr. Gilchist walked away with a $10 million payout.
And Mr Gilchrist’s bank account had another boost on Saturday when he sold his beautiful three-storey beach house in Freshwater on Sydney’s north shore for an undisclosed eye-watering sum.
The property was sold in Before it went up for auction on August 27, it sold for more than $1 million over the $13 million bidding guide.
Details of the sale and the final price were not shared by real estate agents Clark & Hummel.
The founder of cult gym chain F45 has sold his iconic beachfront building for more than $14 million, setting a new local real estate record (pictured is Adam Gilchrist with actor Mark Wahlberg – who owns a stake in the company).
Adam Gilchrist sold his three-storey beachfront property in Freshwater on Sydney’s northern shores for an eye-popping sum on Saturday.
Daily Mail Australia has contacted the agency for comment.
In the year In 2019, Mr. Gilchist and his wife Ellie bought the property for $14 million.
The couple already had the cottage next door after buying it in 2017 for $5.4 million.
For another 2.5 million dollars, they plan to knock down the cottage and replace it with a two-story house with a swimming pool and terrace.
Their development project was stopped after complaints from their neighbours.
The dispute prompted Mr Gilchrist to buy the house next door.
While the $14 million price tag is considered ‘above’ Freshwater’s price, the domestic market has grown significantly since 2019.
In the year The 2022 home is listed as a ‘cutting-edge architectural design’, with the living space opening onto a beach terrace through glass stacks.
The dining room has huge sliding windows that frame the view of Freshwater Beach.
In the year In 2019, Mr Gilchrist and his wife Ellie bought the property for $14 million – $2.5 million more than the $11.5 million it was worth at the time.
The ‘state of the art’ luxury residence sits on a 386 square meter lot and sits at the end of a cul de sac on the sand.
A ‘state of the art’ luxury residence sits at the end of a cul de sac on a 386 square meter plot and meters from the sand.
According to realestate.com.au, Freshwater house prices have risen by 21 per cent in the past 12 months.
Mr Gilchrist co-founded F45 with Rob Deutsch in 2013.
When F45 was listed on the New York Stock Exchange, Mr. Gilchrist By 2021, the couple turned it into a fitness routine before pocketing $500 million alone.
The gym founder reportedly owns a number of properties in Sydney’s northern beaches suburb of Freshwater, including an apartment in Lennox Head and two houses in Byron Bay’s beach pad.
While the $14 million price tag is considered ‘high’ relative to Freshwater’s price, the domestic market has grown significantly since 2019.