The previous owner, horse trainer David Hayes, bought the property in 1989 for $610,000.
The bidding opened at $4 million, with Waterhouse competing against Racing NSW CEO Peter V’landys during the auction.
Decked out: The 66-year-old horse trainer s new freestanding Victorian home features stables with eight horseboxes
Bare necessities: The house itself is situated on a 613 square metre block and boasts four bedrooms with two bathrooms
However Waterhouse came out on top, adding to her portfolio that already includes the properties on either side of her new acquisition.
The purchase comes after Gai got candid about her fraught relationship with her famous father on Anh s Brush with Fame on Tuesday.
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Moonee Valley Racing Club won t start finalising its Cox Plate international wish list until Racing Victoria s Melbourne Cup report and recommendations for international competitors is released.
MVRC has long tried to attract some of the best-weight-for-age stars in the world to the Cox Plate and the club is already keeping a close eye on horses that could receive invites.
However, the findings and recommendations from the report, which is due shortly, could impact which horses are likely to fly to Australia for the Spring Carnival.
The report, which has been completed by RV and the Victoria Racing Club, is likely to recommend new requirements that horses must meet before being allowed to compete Down Under in the spring.