Commonwealth Bank chief Ian Narev and his wife Frances Allan have sold their Paddington home for $3 million, making a $730,000 profit on their 2008 purchase.
The 139m² four bedroom, 3 bathroom Victorian terrace with a double-lock-up garage on Dillon Street was sold an hour before it became open for inspection last week. It was due to go to auction on March 31.
The sale comes as the pair have finished renovating their other Paddington home, bought in 2012 for $5 million, spending $1.5 million on the makeover.
Last year Narev’s salary increased to almost $8.1 million, including a base rate, incentives and shares up $300,000 from his salary of $7.8 million the previous year.
The CBA was at the centre of a financial planning scandal which erupted last year. Advisors were found to have provided poor advice to customers between 2003 to 2012, causing “financial loss and distress”: “and I am truly sorry for that”, said Narev.
Here are some photos of the house he’s just sold.
With a separate living, study area framed by elegant hardwood floors and plantation shutters which run throughout the house.
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