Former Tennis Australia chief sells Melbourne home at $5.75m loss
Former Tennis Australia chief Craig Tiley has sold his Melbourne beachfront property for $7.35 million, resulting in a significant financial loss of over $5 million. The sale follows his career move to the US Tennis Association earlier this year.
Why it matters
The transaction highlights the volatility of the high-end real estate market and the personal financial impact of major career relocations for public figures.
Craig Tiley’s Aspendale home has found a buyer, but the price was well below what he paid for the property in 2022. The beachfront home at 73 Nepean Highway, Melbourne, was sold for $7.35 million, according to a report by the Herald Sun. The former tennis chief bought the home in 2022 for about $13.1 million, leaving him with a loss of $5.75 million.Aspendale home sale ends in lossThe timing of the Aspendale home sale is crucial. In February, Tiley announced he would leave his role as chief executive of Tennis Australia to take up the top job at the US Tennis Association. The following month, he listed the house for $11.5 million. The asking price later fell to $8.75 million, and the sale was confirmed in late September.The listing agents remained tight-lipped about the final figure.
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