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The Waterhouses have made their name as one of Australia’s premier horse racing families, but they have leveraged that expertise, power and wealth into an incredible empire.
The Waterhouse family, Australia’s racing royalty, have not only set records on the racetrack but has also built an empire in the country’s elite real estate market.
Their journey from renowned horse trainers to prominent property moguls is a strategic blend of luxury living and investment properties – with a portfolio boasting prime homes in highly sought-after blue chip locations.
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Tom, Hoda, Gai and Robbie. Picture: Esteban La Tessa
The Waterhouses – among the most high-profile of the family are Gai, Robbie, Bill, Tom and Kate – have a property portfolio of 15 homes worth in excess of $200m – 50 times the prize money on offer for the winner of the Melbourne Cup – and yield a lucrative annual rental income of over $400,000.
‘AUSTRALIA’S FIRST LADY OF RACING’
The family empire is helmed by Gai Waterhouse, the legendary “first lady of Australian racing,” best known for training over 145 Group One winners.
Her journey Australian racing immortality was complete when she finally claimed Australia’s biggest race in 2013 with Fiorente.
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2024 Melbourne Cup Living Legends Parade – Trainer Gai Waterhouse. Picture: Michael Klein
SON OF A GUN
Next in line is their son, Tom Waterhouse, son of Gai and Robbie, who has seamlessly transitioned from on-track bookmaker to business innovator.
After growing his online gambling business into one of Australia’s biggest, Tom sold the company to British giant William Hill in 2014, in a deal initially worth around $34m.
After becoming a celebrity in his own right, Tom is a regular on Sky News where he discusses sports betting and economic insights, and on appeared in “Dancing with the Stars,” in 2006.
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Dancing with the Stars Final. The Waterhouse family – Gunther, Suzanne, Louise, Tom and Kate.
Dancing With The Stars 2006: Tom Waterhouse and dance partner Alana
Tom, now CEO of venture capital fund Waterhouse VC, bought a mansion in Mosman on Sydney’s up-market north shore in 2014, for $13m.
Eight years later he lodged $4m plans, put together by renowned architect Luigi Roselli that would push the home’s value to more than $20m.
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Artist impression of plans for Tom Waterhouse’s Mosman home. Picture: Supplied
KATE WATERHOUSE AND LUKE RICKETSON
Kate Waterhouse, Gai and Robbie’s daughter has made a name for herself as a fashion writer and socialite and a regular TV commentator.
She married Roosters NRL great Luke Ricketson, a premiership winner with the foundation club in 2002.
After tying the knot in 2012, the couple splurged $17.8m on a freestanding five-bedroom home on The Esplanade on Mosman’s Balmoral Beach.
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Kate Waterhouse and Luke Ricketson bought this $17.8m Mosman home. Picture: realestate.com.au
In July, Kate and Luke offloaded their Kings Cross invesment home for $955,00
The open-plan William St apartment was bought in Waterhouse’s company entity for $525,000 in 2010 some four years after Sydney Confidential wrote about her blossoming relationship with former Rooster Luke Ricketson.
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Kate Waterhouse and husband Luke Ricketson with daughters Sophia and Grace
Gai Waterhouse during 2022 Melbourne Cup Parade with her grand daughters Sophia (pink) and Grace. Picture: Michael Klein
They married in June 2012 at San Guiseppe on the coast of Italy.
That Kings Cross home was just one of many properties the Waterhouses called their own.
Here is a list of the Waterhouse property empire:
Collaroy, Sydney
The best of the northern beaches.
The home sits right on the beach. Picture: Realestate.com.au
More glorious water views. Picture: realestate.com.au
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The Waterhouse family splurged a cool $3.86m on a gorgeous Collaroy apartment in March 2023.
The home, called “Flightdeck,” offers buyers an irresistible beach lifestyle.
The fourth floor apartment boasts open-plan living that leads out to a sprawling wraparound balcony with stunning ocean views.
The designer eat-in kitchen is equipped with stainless steel appliances.
Each of the three spacious double bedrooms opens onto the balcony, with the master featuring a private ensuite.
The apartment offers uninterrupted views of Collaroy Beach.
Alpine hobby farm
The seven-bedroom residence where the horse racing family dynasty escape for a weekend.
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The horse racing family dynasty purchased a seven-bedroom, seven-bathroom hobby farm in Alpine, a northern village of the New South Wales southern highlands for $4.94m in 2014.
The hobby farm’s main residence was built in 2000 and is an obvious place for the Waterhouse family to commune, wind down and get away from the hustle and bustle of public life.
The home is spread across 39.15ha.
Elizabeth Bay
The historic mansion has been on the market several times and has been unable to find a buyer.
Amid a marriage drama, a prime harbourside property in Sydney’s east discreetly entered the market with expectations with price hopes between $110m-$120m earlier this year.
Janette Waterhouse, the former spouse of David Waterhouse (son of the late renowned bookmaker Bill Waterhouse) listed the historic Elizabeth Bay mansion, Tresco but has since been pulled from the market.
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Property and art investor David Waterhouse, son of former bookmaker Bill Waterhouse.
It was purchased by the Waterhouses in 2011 for $11m.
The home has $110-$120m price hopes.
The Daily Telegraph reported earlier that the price expectations represented a significant increase from four years ago during the Covid period, when it was reported that Waterhouse was “still seeking a $50m buyer” for Tresco.
The historic home was built in 1868.
Balmoral Beachfront home
Mosman living.
Tom Waterhouse acquired this stunning beachfront home Mosman home for $13m in late 2014.
Known for his roles at Waterhouse VC and TomWaterhouse.com, Waterhouse’s home is among only five homes with direct Balmoral Beach access.
Boasting designs by architect Ian Reeler, the property spans about 918sq m of tropical gardens.
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4 Wyargine Street, Mosman – for NWK Real Estate
Its elegant interiors, with soaring ceilings and expansive glass, offer dramatic views of the beach and rock pool, creating a peaceful sanctuary.
Key features include an elevated garden terrace, private alfresco spaces, four large bedrooms with en suites, and a granite kitchen with ocean views.
A master suite provides a retreat with a dressing room and en suite. Additional amenities are self-contained accommodation, a double garage, ducted airconditioning, and sandstone walls.
The home’s blend of luxury and relaxed living marks it as a standout in Sydney’s real estate landscape.
Villa Biscaya, Rose Bay
The home has seen some lucrative television moments including MAFS and The Voice
The famous Villa Biscaya in Rose Bay, featured on shows like Married At First Sight and The Voice, was snapped up by David Waterhouse family after five years on the market in 2020 for $12.5m
He sold it in June last year for a very tidy profit of about $26m.
Designed in 1929 by Alan Edgecliff Stafford, the home boasted a Spanish Mission style and has been a cinematic and fashion shoot hotspot.
Former owners Rob Gregg and his wife Elaine had restored the mansion after buying it for $2.14m in 1998.
David Waterhouse split from his wife a few years ago and has attempted to sell Villa Biscaya on multiple occasions.
David Waterhouse — the longtime estranged member of the famous horse racing family and former art collector — purchased the home with his ex-wife Janette, the mansion commands stunning views of Rose Bay and features luxurious amenities, including expansive gardens, a poolside cabana, and contemporary comforts like a 1000-bottle wine cellar.
Pymble
The Waterhouse’s Pymble Mansion has become an Upper North Shore’s gem with extensive renovations being done to the property since the home’s purchase in 2016.
The Waterhouse family’s Pymble mansion, bought for $6.8m in 2016, has become one of Upper North Shore’s crown jewels after its lavish renovations.
This five-bedroom, three-bathroom estate sprawls over 4000sq m, offering luxury and elegance with lush gardens crafted by landscape designer Steve Oatley.
Outside the home’s welcoming entrance.
The home includes high ceilings and spotted Gum floors with granite benchtops with the master suite including garden views with its own private terrace.
It also includes a self-contained summer house which adds flexibility for guests.
38 Boronia St, Kensington
Another Waterhouse investment property at 38 Boronia St, Kensington
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A two-bedroom, one-bathroom unit at 38 Boronia St, Kensington was first purchased by the Waterhouse’ in 1974 for an undisclosed price.
Coogee
In Coogee is another property owned by the Waterhouse’s.
A large two-bedroom, one-bathroom unit at 78 Beach St, Coogee was first purchased by the Waterhouses in 1966 for an undisclosed price.
Kensington
The grand facade of the federation home at 166 Doncaster Ave, Kensington, showcasing its historical charm and enviable location alongside Royal Randwick Racecourse.
A four-bedroom, two-bathroom abode at 166 Doncaster Ave, Kensington, was sold to Gai Waterhouse’s family in 2021 for a staggering $7.3m.
This freestanding federation home, perched on 613 sqm, features private horse stables with eight boxes, directly connected to the iconic Royal Randwick Racecourse.
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The spacious lounge area awaits, complete with traditional details and abundant natural light, promising comfort and elegance in every corner.
The home contains a distinctive dining area, a gas-equipped kitchen including a dishwasher, dual bathrooms, and internal laundry facilities.
The home is also located near the University of New South Wales, Centennial Parklands, Randwick Shopping Village, and Light Rail leading to the CBD.
According to PropTrack data the home was fetching $950 a week or $49,400 in annual rental returns as of May 2023.
Kensington
The Waterhouse family’s next Doncaster Ave purchase – this four-bedroom character home was, acquired for $4.228m in 2008, has become a rental goldmine for the family with stellar returns.
A four-bedroom, two-bathroom home on Doncaster Ave, Kensington was another Doncaster Ave home that Waterhouse family purchased – with the Randwick Racecourse backing onto the home.
In 2008, the Waterhouses acquired the home for $4.228m.
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Nestled just minutes away from Kensington Village, this property’s renovated features and great location make it a top choice for renters pulling in approximately $1,050 a week.
The home’s 2022 rental listing boasted ample outdoor space, a well-equipped kitchen, and charming period features.
The kitchen, complete with a dishwasher, effortlessly transitions into the spacious airconditioned lounge and dining area.
Each of the four bedrooms is generously sized and includes built-in wardrobes.
PropTrack data indicates that as of November 2022, the property was generating $1,050 per week in rental income, equating to $54,600 annually.
Kensington
The stunning facade of the Waterhouse family’s Kensington home.
A four-bedroom, one-bathroom home at on Doncaster Ave, Kensington was purchased by the Waterhouse family for around $4m back in 2008.
According to the rental listing the house boasts a prime location just minutes away from Kensington Village, the Prince of Wales Hospital, UNSW, and Sydney Airport.
Inside the Waterhouse home: the spacious lounge features elegant wooden floors and a decorative fireplace, offering a perfect blend of charm and comfort.
Inside, the residence wooden floors stretch throughout the airy, sun-filled rooms as well as a well-equipped kitchen and internal laundry add to the home’s allure.
Outside contains sun-drenched courtyard and off-street parking,
PropTrack data indicates that as of February 2023, the property was generating $1,200 per week in rental income, equating to $62,400 annually.
Redfern
Exterior of the $24m commercial gem in Redfern.
The Waterhouse family has snapped up a commercial gem in Sydney’s city’s vibrant inner south for a cool $24m in April this year.
Bourke and Thurlow Streets the commercial property is just steps away from the area’s thriving cafe culture, bars, restaurants, and boutiques, as well as convenient transport links.
Inside one of the Bourke St, Redfern commercial spaces.
The property’s rental listing said prospective tenants can anticipate chic office suites ranging from 10 to 55sq m, complete with full kitchen and bathroom amenities, showers, and a private entry foyer adorned with expansive plate-glass frontages.
Local Sydney business, Bev’s Remnant House is one of the occupants of the Waterhouse’s building.
Bronte
The Waterhouse’s have held onto this Bronte apartment since 2000.
Adding to the Waterhouse’s property catalogue is a two-bedroom, one-bathroom apartment in Sydney’s eastern suburbs.
The property on Brae St, Bronte was purchased by the family in 2000 for $1.81m.
PropTrack data indicates that as of October 2017, the property was generating $630 per week in rental income, equating to $32,650 annually.
Kensington
One of the home’s believed to be occupied by the family.
Purchased by the Waterhouses in 1995 for $580,000 this three bedroom home could be worth millions.
According to PropTrack data median property prices in Kensington over the last year range from $4.205m for houses to $981,000 for units.
Kensington
Just minutes from Royal Randwick Racecourse, the home offers convenient urban living with easy access to shops, public transport, and local amenities.
Back in 1987, the renowned racing dynasty family made a smart investment, snapping up a charming two-bedroom, one-bathroom home on Doncaster Ave for $365,000. Fast forward to July 2022, and this treasured property was up for rent offering a cosy abode at $650 per week.
The home’s 2022 rental listing said the property was just a stone’s throw from Royal Randwick Racecourse, and boasts built-in wardrobes in each bedroom, an open-plan living area, and an eat-in kitchen complete with a dishwasher and gas cooktop.
Freshly painted with polished floors glistening throughout, the updated bathroom ties the interior together, and the home includes the convenience of internal laundry facilities.
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Nestled in the heart of Kensington, this two-bedroom gem, treasured by the Waterhouse family features polished flooring and a spacious open-plan layout
Perfect for those who love to entertain, the home features a front deck and balcony area.
However, the horse stables at the rear remain off-limits to renters.
PropTrack data indicates that as of January 2023, the property was generating $600 per week in rental income, equating to $31,200 annually.
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