Craig Tiley loses $5.75 million on beachfront home sale

Pic credit: Realestate.com.au 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.Pic credit: Realestate.com.auAspendale home sale ends in lossPic credit: Realtor.com.auThe 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.Pic credit: Realtor.com.auThe listing agents remained tight-lipped about the final figure. Until the records emerged, no party associated with the sale had disclosed how much the house had changed hands for. This is common in a market where many buyers and sellers prefer discretion.Pic credit: Realtor.com.auHowever, Tiley’s loss is significant. The $5.75 million figure is only part ...