Waterhouse clan buy Randwick shop top row

Waterhouse clan buy Randwick shop top row
Waterhouse clan buy Randwick shop top row

The Waterhouse clan have bought a sizeable Randwick investment, but it's not trackside.

Robbie and Gai have emerged as the $10.75 mililon buyers of a nearby Belmore Road shop-top building with 12 residential apartments above three retail shops.

The art deco three storey building is a 905 sqm holding at 35-43 Belmore Road, a premium position on the eastern side directly in front of a pedestrian crossing opposite Silver Street.

It was marketed as having a gross annual rental of $575,000, with tenants including Flight Centre, when sold recently by Michael Laing at Raine and Horne on a 5% gross yield.

There were 24 bedrooms all up.

The legal paperwork lodged by their solictor John Miller came without any registered mortgage.

Of course nearby Royal Randwick, to Gai's late trainer father, Tommy Smith, has always been hallowed turf. 

It was in 1941 when TJ went to the Australian Jockey Club and registered blue and green racing colors for himself, and took out a permit to train at Kensington, opposite Randwick. 

This article was first published in the Sunday Telegraph.

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Investment Commercial Sale

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