As his divorce from Amber Heard drags on amid domestic violence accusations, Johnny Depp has reportedly put his multi-million dollar mansion in Venice up for sale at a loss.

According to Italian newspaper Affari Italiani, the 53 year old Hollywood megastar has placed the four storey mansion, which overlooks the Grand Canal in the centre of the iconic Italian city, on the market for an asking price of $10.9 million.

Johnny DeppJohnny Depp performing with Hollywood Vampires in June 2016

Boasting seven bedrooms and nine bathrooms, the 17th century Palazzo Dona Sangiantoffetti, which according to the New York Daily News' Page Six was once owned by a Venetian ship-building family, was bought by Depp in 2011 for approximately $13 million, meaning that he’s making a sizeable loss.

Depp is said to have fallen in love with the picturesque city while he was there filming The Tourist with Angelina Jolie in 2010, and purchased the massive property the following January, with reports at the time suggesting he had to outbid an unnamed Arabian prince to secure it.

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His entire property portfolio includes homes in Hawaii, Somerset, West Hollywood and a 45-acre private island in the Bahamas. The actor also put up an entire French village he used own up for sale last year for $26 million.

It comes less than a month after Depp also sold two paintings by the late artist Jean-Michael Basquiat for a total of $11.5 million at a Christie’s auction. This all suggests that Depp is preparing for an expensive financial strategy as his divorce from Heard, which was announced less than two months ago, heads to court in the near future.

Apart from an initial public announcement in which he denied the domestic violence allegations made by Heard, his wife of 15 months, Depp has kept quiet and chosen to focus on his rock group project Hollywood Vampires, with whom he has made a number of appearances this summer.

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