Melbourne Cup bookmaker Mark Read lists $3.95m Gilderoy estate as he eyes Noosa retirement

Mark Read says his Gilderoy estate has given him more enjoyment of nature than any of the seven farms he has owned during his life.

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A legendary Melbourne bookmaker is selling his Yarra Valley rainforest retreat for up to $3.95m as he prepares for retirement and another Melbourne Cup.

Former bookie Mark Read has listed The Gamekeeper’s Lodge at 1311 Little Yarra Rd, Gilderoy, a four-bedroom home set across 24.77ha of countryside featuring a private lake, rainforest and towering manna gums.

Mr Read, who collected $960,000 backing Black Knight to win the 1984 Melbourne Cup, said he and wife Shari were planning to spend part of their retirement near Noosa.

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But the former betting ring heavyweight has not given up picking winners, tipping Ciaron Maher-trained Point Of Law for Tuesday’s Melbourne Cup.

The Geelong Cup winner was formerly owned by King Charles III and Queen Camilla before being sold to Australian interests.

Mr Read said his confidence in the horse came from Maher’s use of technology, artificial intelligence and scientific research to improve the performance of his runners.

Geelong Cup winner Point Of Law is Mark Read’s tip for the 2026 Melbourne Cup, with the former bookie backing trainer Ciaron Maher’s scientific approach to racing. Picture: Vince Caligiuri/Getty Images

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“If I was going into that call the card tomorrow, I’d have those bookies on their knees,” he said.

The strategy is familiar territory for Mr Read, who backed Black Knight in 1984 largely because of his confidence in legendary trainer George Hanlon.

He recalled challenging bookmakers at the traditional pre-Cup call of the card, seeking bets that would return $1m if the horse won.

But the victory did not go down quite as expected with Hanlon.

Mr Read said he encountered the trainer at Kyneton the following day and offered to host a lavish dinner for 10 at Melbourne restaurant Fanny’s.

Mark Read, pictured in 1981, famously collected about $960,000 backing Black Knight to win the 1984 Melbourne Cup.

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Instead of accepting the invitation, Hanlon berated him for backing the horse after reportedly telling his own clients it was not good enough to win.

“You made me look a fool,” Mr Read recalled the trainer telling him.

The former bookmaker’s latest multimillion-dollar property campaign brings another chapter of his extraordinary real estate history towards a close.

He said a friend at Kay & Burton had spent 12 months searching for a large Mornington Peninsula property before introducing him to the Gilderoy estate just two days before its scheduled auction.

“I went home that night and I said, ‘I’ve fallen in love with this property’,” he said.

“It’s like having an Australian station within an hour of Melbourne.”

Bookmaker Mark Read, pictured in 1986, once owned Sydney’s famous Boomerang mansion, which he bought in 1982 before selling to developer Warren Anderson.

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Mr Read originally ran horses and cattle on the much larger holding before selling about 300 acres and retaining the approximately 61-acre section containing the lodge.

He said the wider property had also been an early water source for the Mount Franklin bottled water brand, with the commercial spring operation continuing on land he subsequently sold.

The lodge’s enormous glass conservatory has a 12-panel ceiling with remote-controlled shutters, while an antique Italian marble fireplace opens to an outdoor entertaining area overlooking the lake.

French oak floors, Belgian windows and a kitchen with Gaggenau appliances feature throughout the European-inspired residence.

The centrepiece of Mark Read’s Gilderoy retreat is an 8m by 9m conservatory featuring a 12-panel glass ceiling and an antique Italian marble fireplace.

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The four-bedroom Yarra Valley home includes a Gaggenau-equipped kitchen, butler’s pantry and climate-controlled wine storage.

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But Mr Read said it was the natural environment, including manna gums reaching about 60m and birdsong from sunrise to sunset, that made the property special.

“I’m a Fitzroy boy, and not many Fitzroy boys become farmers,” he said.

“I’ve come to understand the power of nature.”

The home is another addition to Mr Read’s extraordinary property history, which includes Sydney’s famous Boomerang mansion at Elizabeth Bay.

A double-sided fireplace connects the lodge’s glass-roofed conservatory to an outdoor entertaining terrace overlooking the surrounding rainforest.

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The Gamekeeper’s Lodge at Gilderoy features custom glass wall murals depicting the property’s natural surroundings, including its rainforest and towering trees.

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He said he bought the waterfront landmark in 1982 and lived there with his wife and children for five years before developer Warren Anderson made an offer he could not refuse.

Boomerang later changed hands in an $80m transaction and has recently been linked to price expectations of about $100m.

The couple also previously owned Beauty Falls, a sprawling Cooroy Mountain estate near Noosa that sold for $3.3m in 2013.

Former bookmaker Mark Read is selling his Yarra Valley estate with $3.6m-$3.95m price hopes as he and wife Shari prepare to spend part of their retirement near Noosa.

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Mr Read said returning to Queensland would allow the couple to enjoy a different lifestyle, although he was not ruling out another country property.

“I really enjoy living in the country now,” he said.

Frank Dowling Real Estate agent Anthony Elliott is handling the Gilderoy sale through expressions of interest.

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