Qantas boss Alan Joyce joins the high-flyers at Palm Beach

Alan Joyce has bought into Palm Beach, a stone’s throw from his former mate Geoff Dixon’s luxury retreat.

Alan Joyce's new house in Palm Beach. Photo from LJ Hooker.

Qantas chief executive Alan Joyce has bought into the life­styles of Sydney’s rich and ­famous, buying a prestige holiday house in Palm Beach, a mere stone’s throw from the luxury ­retreat of his former mate Geoff Dixon.

The Irish-born airline boss forked out about $5.5 million earlier this week for the Palm Beach contemporary-style house sporting five bedrooms, five bathrooms and a two-car garage. Four bedrooms feature ­private ensuites.

Mr Joyce joins celebrities and Australia’s corporate elite at Palm Beach, which is about 50km north of the CBD, with the peninsula’s regular holidaymakers including the likes of international stars Elle McPherson, ­Nicole Kidman and Mick Jagger.

Mr Joyce’s beach house is near Mr Dixon’s holiday house, which was bought by the former Qantas chief executive and former Tourism Australia chairman about five years ago.

Mr Joyce and Mr Dixon fell out spectacularly several years ago over Tourism Australia funding, and Qantas suspended its 40-year partnership with the agency.

Local retreat owners include the Packer family on Ocean Road, Crown chairman Rob Rankin, property magnate Greg Paramor and former construction boss Wal King.

“You name it, they are all up there,” said one agent.

It is understood that Mr Joyce bought the property as a weekender for himself and his partner, Shane Lloyd.

During the week, the couple reside in an apartment in inner-city The Rocks.

Mr Joyce’s new digs sport a lap pool perched on a cliff edge as well as a lavish chef’s kitchen and large open-plan lounge and living area.

The property on more than 1000sq m, and overlooking the Pacific Ocean, last traded for $2.5m in 2009 and is close to the popular Jonah’s Restaurant and Guesthouse.

It sports 180-­degree views across Whale Beach and north to Cape Three Points.