Gai and Robbie Waterhouse pull Randwick commercial property from auction
With no bidders on the horizon, Gai and Robie Waterhouse have pulled their Randwick commercial property from Thursday’s scheduled auction.
NSW
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Champion trainer Gai Waterhouse and husband Robbie pulled their Art Deco Randwick commercial building from its scheduled auction on Thursday given the absence of any sign of likely bidders.
Their three-storey Belmore Rd offering came with $13.5m hopes.
Its last-minute scratching will see the listing go instead to May 15 auction.
“Please mark that in your calendar,” auctioneer Damien Cooley told the auction room.
“The buyers were not in a position to bid given the global (tariff) situation,” NG Farah Real Estate agent Peter Goulding said.
The property cost the Waterhouses $10.75m in 2015, when secured with no registered mortgage.
Goulding and Theo Karangis had the listing, which was advertised as being “unquestionably one of the best-positioned sites in the eastern suburbs to hit the market in the last decade.”
The scheduled midweek auction sits among Waterhouse’s busy Saturday racing calendar.
She’ll be at Randwick this weekend for The Star Championships, where her and Adrian Bott’s runner Alalcance, with jockey Tim Clark, is a heavily-backed TAB favourite in the Schweppes Sydney Cup.
They also have Vauban in the Queen Elizabeth Stakes.
The building has 12 residential apartments above three retail shops on the 905 sqm holding on the eastern side of Belmont Rd, directly in front of a pedestrian crossing opposite Silver St. The apartments are a mix of one, two and three-bedroom offerings.
The commercial leases are with Flower Forum, MGM Martin, and Red Cross Shop Randwick.
The building currently returns $688,000 per annum, up from its purchase when marketed as having a gross annual rental of $575,000.
Land tax and council rates now add up to around $110,000 per annum.
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Originally published as Gai and Robbie Waterhouse pull Randwick commercial property from auction
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