F45 co-founder Adam Gilchrist has been in a selling frame of mind since the exercise chain suffered a share price rout a few months ago and management kicked off a cost-cutting drive that included his own job as chief executive.

The property sell-off started with a couple of Freshwater houses, for which he pocketed about $23 million, and this week it spread north to his Byron Bay holdings when his “guest house” at Wategos Beach was listed for sale.

Adam Gilchrist’s Byron Bay “guest house” is set in exclusive Wategos Beach behind his $18.85 million trophy home.

Adam Gilchrist’s Byron Bay “guest house” is set in exclusive Wategos Beach behind his $18.85 million trophy home.

The property is not to be confused with Gilchrist’s beloved trophy home opposite Wategos Beach which he bought for $18.85 million – that is said to be off-limits, for now.

Instead, on offer is the neighbouring three-bedder that was bought in a company name controlled by his Facebook friend Lana Fredkin in 2020 for $5.1 million, with the paperwork on the corporate entity filed by the same firm who look after Gilchrist’s and F45’s Australian company interests.

Jeremy Bennett, of Byron Bay Property, said the house was used by Gilchrist to house extra guests, but was more recently gutted as part of a renovation, and is now only half complete as it hits the market for $10 million to $11 million.

Adam Gilchrist resigned as chief executive of F45 in July.

Adam Gilchrist resigned as chief executive of F45 in July.Credit:Noam Galai

The sale of the half-renovated shell comes during a torrid time at F45, despite its star backing by Mark Wahlberg. Not only has the share price dropped more than 80 per cent from its high of $US16 million when it floated on the Nasdaq in July last year, but the company is also being sued by David Beckham.

The star former footballer claims a promotional agreement failed to pay out “cash and equity compensation” despite having “enhanced its public profile and credibility” from the deal with him.

F45 responded by noting its disappointment to learn of the lawsuit, but “believes this suit is an attempt … to unreasonably profit off the rights”, despite Beckham’s licensing company prematurely terminating his relationship with the company.

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