Just weeks after the fitness empire descended into chaos, the founder of cult gym chain F45 sold his stunning beachside mansion for more than $14 million, setting a new record for local real estate.
After the gym announced it would have to fire 110 corporate employees and share prices fell by 61.5% in late July, Adam Gilchrist resigned as CEO of F45.
When the company last filed its accounts, it had less than $20 million in cash, and Mr. Gilchrist received a payout of $10 million.
Furthermore, Mr. Gilchrist’s bank account received a boost on Saturday when he sold his swanky three-story beachfront home in Freshwater, on Sydney’s northern beaches, for an undisclosed eye-popping sum.
The house was sold for more than $1 million above the auction reference price of $13 million and did so ahead of its August 27 scheduled auction.
The real estate brokers Clarke and Humel have not disclosed specifics of the transaction or the ultimate price.
Inquiries into the agency were made by Daily Mail Australia.
The house cost $14 million to buy for Mr. Gilchrist and his wife Eli in 2019.
After paying $5.4 million for it in 2017, the couple already owned the property next door.
In order to build a two-story home with a pool and terrace on top, they planned to spend an additional $2.5 million tearing down the cottage.
A neighbor’s complaints caused them to stop their development project.
Mr. Gilchrist made a bid to purchase the house next door as a result of the argument.
In terms of Freshwater prices, the $14 million price was regarded as “an outlier,” but the neighbourhood market has experienced rapid growth since 2019.
The residence’s living area opens via glass stackers to a beachfront balcony and was described as having “cutting-edge architectural design” in 2022.
A view of Freshwater beach is provided by the restaurant’s enormous retractable windows in the dining area.
Mr. Gilchrist made a bid to purchase the house next door as a result of the argument.
In terms of Freshwater prices, the $14 million price was regarded as “an outlier,” but the neighbourhood market has experienced rapid growth since 2019.
The residence’s living area opens via glass stackers to a beachfront balcony and was described as having “cutting-edge architectural design” in 2022.
A view of Freshwater beach is provided by the restaurant’s enormous retractable windows in the dining area.