CBA boss Ian Narev sells weeks before auction in realistic Paddington market
Jonathan ChancellorMarch 12, 2015
The Commonwealth Bank chief Ian Narev and his wife Frances Allan have snappily sold their Paddington terrace, well ahead of its scheduled 31 March auction.
It sold mid-week at around $2.85 million, just a week into its McGrath marketing campaign.
It typically takes around 42 days and at an 8% discount to secure a Paddington terrace sale.
The 230 square metre double fronted home on a 139 square metre block had been tipped to fetch $2.9 million plus after renovations, including a new kitchen.
The couple purchased it for $2.26 million in 2008.
The listing comes close to the completion of a reported $1.5 million renovation of the upgrading Paddington couple's home which was bought in 2012 for around $5 million.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
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