Outgoing Qantas CEO Alan Joyce is preparing to sell his extravagant harbourside mansion, as he looks to move into a penthouse in The Rocks, Sydney.
The stunning North Shore property was purchased by Joyce for a staggering $19 million in May last year.
However, following Qantas’ announcement of a significant $1.9 billion loss and the airline’s struggles with customer service, flight delays, lost baggage, and layoffs, Joyce faced scrutiny over his lavish spending habits, according to realestate.com.au.
Defending himself against the criticism, Joyce argued that his personal life should not be relevant and stated that he was tired of justifying his professional and personal decisions.
He emphasised that as the CEO of Qantas, he should not be viewed as a public figure but rather as a business figure.
Despite his defence, the controversy surrounding his lifestyle persisted.
The Mosman property, which Joyce is now preparing to sell, has undergone some renovations under his ownership.
Given the current demand for luxury homes in Sydney, it is speculated that the house could fetch a price exceeding $20 million.
The mansion, originally built in 1908 and redesigned by architect Paul Moon in 2015, offers three levels of luxury living space, including formal and casual areas, a cinema, and a wine cellar.
Additionally, the property features a netted harbour pool, a jetty, and a private berth.
Previously owned by Alison Ethell and her sister, Jane, since 1993, the grand residence was acquired for a mere $1.25 million.
The median house price in Mosman, according to PropTrack, currently stands at $5 million, reflecting a 7.4 percent decrease over the past year.
