Qantas’ outgoing chief executive, Alan Joyce and husband Shane have bought another apartment in their existing complex, effectively doubling the size of their home.
In a second major real estate play the couple plan to sell their $19m Mosman waterfront even though they have held it for little more than 12 months.
The couple paid about $9m for a second sub-penthouse adjoining their existing apartment in The Rocks, which they plan to renovate and expand into a six-bedroom, all-ensuite whole floor apartment so they can better accommodate extended family members visiting from overseas.
Alan Joyce will step down as Qantas chief in November. Picture: Steve Creedy
Meanwhile, the Mosman deep waterfront mansion which the couple purchased mid last year for $19m on Sydney’s North Shore is about to hit the market.
They bought that six-bedroom 1908-built mansion fronting Mosman Bay, with netted harbour pool, jetty and private berth, in May, 2022 and had planned to spend up on a redesign.
Given the lack of premium listings in Mosman, the sale could turn them a profit even though they have held the property a short time.
Added to that, Sydney prices have just increased for the first time since 2021 and buyer appetite for high-level real estate is strong.
Closer to the city in The Rocks and just off the Sydney CBD, the new apartment purchase adds three bedrooms with ensuites and two garages to their existing holding in the Harry Seidler-designed tower.
The apartments in the complex have spectacular views.
The apartment tower is north-facing and has views of the Sydney Opera House and Sydney skyline. Two swirl balconies offer unobstructed views to North Head as well as the Opera House and Bridge.
Similar apartments have fetched more than $9m, according to local sources.
It is understood the penthouse sale was negotiated by McGrath agent Richard Shalhoub, who has sold a number of apartments in the popular tower.
The building provides residents with a gym, sauna and steam room as well as 24-hour concierge.
According to publicly available data, the couple’s existing penthouse was purchased by them in 2008 for $4.575m. That year, Mr Joyce was promoted to chief executive of Australia’s national carrier.
Billed as a “sprawling apartment”, the existing penthouse features 251 sqm and includes three bedrooms – all with ensuites as well as a single garage.
The couple also have a Palm Beach holiday house north of Sydney.
Mr Joyce is one of the top 20 private shareholders in Qantas. Qantas shares closed 1.6 per cent lower on Friday at $6.68.