{"id":923311,"date":"2026-10-10T18:08:21","date_gmt":"2026-10-10T18:08:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/923311\/"},"modified":"2026-10-10T18:08:21","modified_gmt":"2026-10-10T18:08:21","slug":"former-tennis-australia-chief-craig-tiley-sold-his-melbourne-beachfront-home-for-7-35-million-after-buying-it-in-2022-the-sale-left-him-with-a-5-75-million-loss","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/923311\/","title":{"rendered":"Former Tennis Australia chief Craig Tiley sold his Melbourne beachfront home for $7.35 million after buying it in 2022; the sale left him with a $5.75 million loss"},"content":{"rendered":"

\"FormerPic credit: Realestate.com.au Craig Tiley\u2019s 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.\"Melbourne<\/p>\n

Pic credit: Realestate.com.au<\/p>\n

Aspendale home sale ends in loss<\/p>\n

\"Ex-Tennis<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

The 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.\"Beachfront<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

The 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.\"The<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

However, Tiley\u2019s loss is significant. The $5.75 million figure is only part of the bill. Tiley also paid $831,500 in stamp duty, calculated on the original purchase price. Add that to the loss, and the total comes to roughly $6.58 million. That loss works out at about $4,070 a day. Without the stamp duty, the daily figure is closer to $3,560. Either way, the sale resulted in a loss for the tennis chief.\"The<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

Inside the house<\/p>\n

\"The<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

Located at 73 Nepean Highway, Aspendale, the property sits on approximately 1,998 sq m. According to the listing, the property has \u201cbreathtaking panoramic views across Port Phillip Bay and direct access onto the sand, placing the beach quite literally at your doorstep\u201d. The house sits on one of the most exclusive and secluded stretches of coastline.\"The<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

The home has four bedrooms, four bathrooms and three living rooms. It also has a floodlit tennis court, a heated pool and a spa. The house comes with a four-car garage. The kitchen is fitted with gourmet Gaggenau appliances and includes a butler\u2019s pantry and a wine fridge.\"The<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

\u201cStep straight out of your gate for a morning swim, paddleboard, or simply take in the ever-changing seascape as the bay comes alive with dolphins, kite surfers and spectacular sunsets,\u201d the listing says. There is also a private upper-level retreat with a balcony, dressing room and en-suite bathroom.\"Second<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

According to the listing, the estate\u2019s outdoor spaces have the feel of \u201ca private coastal sanctuary\u201d.\"The<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

Tiley\u2019s house is not the only Aspendale property on the market. RT Edgar Bayside\u2019s Joe Doyle<\/a> is handling the campaign for 20 Bowman St, a five-bedroom home with an 11-car basement garage and a beachfront pool. It is priced between $9.5 million and $9.9 million.\"The<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

Cameron Howe of One Agency Longbeach described the local market as a pyramid. Entry-level homes are still changing hands as buyers seek affordability and a coastal lifestyle. \u201cAs you climb the pyramid, the fish get fewer and the pain gets higher, particularly for vendors who purchased in the past couple of years,\u201d Mr Howe told the outlet.\"Tennis<\/p>\n

Pic credit: Realtor.com.au<\/p>\n

\u201cCorrectly priced properties are still attracting buyers and moving, particularly in beachside suburbs where the coastal lifestyle, strong local and state government investment and cosmopolitan dining scene in places like Mordialloc continue to hold appeal, but buyers are getting pickier with the choice a spring market brings.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Pic credit: Realestate.com.au Craig Tiley\u2019s Aspendale home has found a buyer, but the price was well below what…\n","protected":false},"author":2,"featured_media":923312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[565],"tags":[491061,64,63,491062,54757,491067,491066,491065,491064,491063,85,747,106747,41117],"class_list":["post-923311","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tennis","tag-aspendale-home-sale","tag-au","tag-australia","tag-beachfront-property-melbourne","tag-craig-tiley","tag-edgar-baysides","tag-joe-doyle","tag-luxury-homes-melbourne","tag-property-market-trends","tag-real-estate-loss","tag-sports","tag-tennis","tag-tennis-australia","tag-us-tennis-association"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/923311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=923311"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/923311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/923312"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=923311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=923311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=923311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}