Dubai ruler Sheik Mohammed bin Rashid Al Maktoum and his Australian thoroughbred operation, Godolphin Australia, have sold their Mosman home at auction.
It sold under the hammer for $4.45 million, according to CoreLogic, after four bidders threw their hats into the ring for 20 Orlando Ave.
The result is $550,000 less than the $5 million that Godolphin Australia paid for the property in 2016 — near the height of the most recent property boom.
The five-bedroom home was used as a residence for its then Australian operations boss Henry Plumptre.
It has been sitting empty, since Mr Plumptre resigned from his role at the company in mid-2017.
Listed with Bradfield Cleary’s Bob Guth and Sam Green, the Mosman family home sits on 446sqm and is located close to Mosman Bay Wharf and Cremorne Point.
Features include a swimming pool, character features and a large entertainment area with built-in barbecue.
Godolphin and its assets, including the Mosman home, are ultimately owned by Sheik Mohammed. On top of being the ruler of Dubai, he is the Vice President and Prime Minister of the United Arab Emirates.
Winning its first Melbourne Cup last year Cross Counter, Godolphin traces its origins to England, where it was founded in 1981. It has since expanded into seven countries including the UAE, the US, Japan, Ireland and Australia in 2002.