News | Iceland Monitor | Tue 15 Oct 2019 | 11.44 GMT | Modified at 12.09

WOW Air CEO’s House for Sale

Photo/Oceanvillaiceland.com

Vala Hafstað
vala@mbl.is

The oceanfront home of former WOW Air CEO Skúli Mogensen is for sale, mbl.is reports. The property, located at Hrólfskálavör 2 on Seltjarnarnes point, near Reykjavík, is listed on the website oceanvillaiceland.com , where you can find numerous photos of the interior. It is one of the country’s most expensive homes. WOW Air went bankrupt in March.

Photo/Oceanvillaiceland.com

The three-story house, measuring 630 m2 (6,780 sq ft), is at a prime location, with an ocean and mountain view. It is designed by Steve Christer and Margrét Harðardóttir at Studio Grandi and its real estate evaluation is ISK 261 million (USD 2 million; EUR 1.8 million).

According to mbl.is the same award-winning architects designed Reykjavík City Hall, the building of the Supreme Court of Iceland and Reykjavík Art Museum Hafnarhús.

Photo/Oceanvillaiceland.com

Skúli purchased the property in 2016. To begin with, it was listed as an asset of his company Kotasæla ehf, but he transferred ownership to his own name on June 1, last year.

In September of 2018, Skúli bought stock in the then troubled WOW Air for ISK 750 million, with his house and his land in Hvalfjörður as collaterals. According to Stundin , the collateral for the house, now for sale, was EUR 2.77 million (the equivalent of about ISK 380 million, at today’s foreign exchange rate).