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Preheat the oven to 350°F. Lightly grease a 10- to 12-cup bundt-style pan.
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In a large bowl whisk together the flour, gingerbread spice, salt, baking soda, and baking powder. Set aside.
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In a separate bowl, beat together the butter and sugar until fluffy.
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Add the eggs one at a time, beating well and scraping the bottom and sides of the bowl after each addition. Stir in the molasses.
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Add the flour mixture in three additions alternately with the water, starting and ending with the flour. Mix just until smooth.
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Pour the batter into the prepared pan, smoothing the top.
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Bake the cake for 55 to 65 minutes, or until a cake tester inserted into the center comes out clean.
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While the cake is baking, make the glaze by stirring together the water spice and sugar. Set aside.
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Remove the cake from the oven, cool it in the pan for 10 minutes, then turn it out onto a rack.
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Brush the cake with the glaze, and allow it to cool completely before serving.