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Former Qantas boss Alan Joyce is using part of his $21 million golden handshake to upgrade his Sydney harborside home as he retires.
Joyce, 57, stepped down abruptly last year to allow the airline to ‘get on with its renewal’ after a series of controversies saw the flying kangaroo brand’s reputation plummet.
Joyce and her husband Shane Lloyd have now submitted plans to the City of Sydney to convert two luxury apartments they own in the iconic The Cove building in The Rocks into a mega-apartment spanning the entire 42nd floor of the 43-storey tower.
The $2.87 million development, designed by Cox Architecture, will see the wall between the two three-bedroom apartments removed to form a five-bedroom unit with a 450 sq m footprint.
The super unit in the Harry Seidler-designed building at 129 Harrington St will also have 100m2 of balcony area allowing for stunning harbor views.
Former Qantas CEO Alan Joyce to upgrade his luxury Sydney Harbor front unit (pictured is the view from the balcony)
Joyce and husband Shane Lloyd seen at an awards ceremony in 2017 in Sydney
They will combine two apartments they own in The Cove building at The Rocks into a super unit that will have a footprint of 450m2.
Joyce and Mr Lloyd bought unit 4201 in the building in 2008 for $4.575 million and have called it home ever since.
In 2022, the couple bought a spectacular waterfront Mosman house in the Arts and Crafts style for $19 million, which they intended to move into, but changed tack when their second-floor apartment in The Cove came on the market.
“We were unexpectedly given the opportunity to secure the second semi-detached flat where we currently live,” Joyce said last year.
They bought apartment 4202 in The Cove for $9.25 million and sold the Mosman property in mid-2023 for just under $21 million without ever having lived there.
“We certainly wish the next owners of 12 Musgrave St all the best in what is a fantastic home,” Joyce said.
They own the entire 42nd floor of the 43-storey The Cove building (pictured)
They bought the other half-level condo recently for just under $10 million
The couple also own a Palm Beach vacation spot overlooking Whale Beach, which they bought in 2015 for $5.25 million.
Joyce briefly visited his native Ireland to care for his ailing mother when he resigned from Qantas, but returned to Australia earlier this year.
He was due to head an inquiry into the government’s decision to block extra flights to Australia from Qatar Airways, but was no longer required when the Greens and crossbenchers joined with Labor to cancel it.
During his 15 years at the helm of Qantas, Joyce pocketed a reported $125 million including $28 million in bonuses.
Joyce sold her Mosman mansion for just under $21 million after never living there
The Arts and Crafts style home also overlooks Sydney Harbour
In recent years, the airline has been hit by controversies on ‘several fronts’.
The business regulator claimed it sold more than 8,000 tickets to customers on already canceled flights, while a court found it unlawfully sacked 1,700 ground staff during the Covid pandemic.
The company also refused to return any of the billions it put into government subsidies during the pandemic, despite a record profit of $2.47 billion last year.
Qantas is now led by Vanessa Hudson, the airline’s former chief financial officer.
The couple also own a vacation home in Palm Beach (pictured)