Tristan Waters' Vaucluse development plans thwarted

While sitting in a Serbian prison over an alleged cocaine shipment, the Vaucluse development site of prolific property developer Tristan Waters has been sold.

The sale was signed off by the Supreme Court.

Waters had envisaged a luxury residential project on his site amalgamation on the Chris Bang Crescent dress circle before the bust.

The property he owned, which cost $2.6 million in 2016, recently fetched $3,025,000. It was the 1950s home where The Block host Scott Cam grew up before Waters bought it from his mum, Gay.

It was re-offered as a prime development prospect with sublime ocean views.

Waters also had a caveat lodged on the adjoining property but could not settle on the purchase which would have been a combined 1,230 sqm holding. 

McGrath Edgecliff agent Peter Starr sold the Waters property, while Ray White Double Bay agent Gaving Rubinstein sold the $3.6 million home next door.

Waters, who had been renting a $2900 a week Rose Bay home before relocating to Dubai, remains in Serbia having appealed against being expedited back to Australia after he and two others were arrested in an alleged major cocaine bust earlier this year.

After his arrest in the lobby of a Belgrade hotel, Waters was one of three accused of importing $500 million worth of cocaine to Australia.

One of the trio accused, prominent steel businessman Rohan Arnold, has been surrendered to Australian authorities, however Waters and fellow co-accused David Campbell remain behind bars.

The drugs, totalling nearly 1,300 kilograms, were found on a Chinese container boat in Sydney last year having been hidden inside pre-fabricated steel.

Waters ran construction firm Triswat Constructions which said it managed 200 construction projects in Australia.

This article was first published in the Saturday Daily Telegraph.