Scott Wharton, part of the executive leadership team at the Commonwealth Bank, is quietly shopping his $9 million Bellevue Hill mansion around through Double Bay real estate agents.
It’s understood Wharton has taken on board the predictions of his bank’s economists that there are COVID-19-related price drops ahead for the property market — of between 11 and 32 per cent — over the next two years.
He’s aiming to capitalise now while there’s very little competition and intends to buy again later in the year or early next year when he believes prices will be cheaper.
So buyers are being shown through the seven-bedroom, four-bathroom home with four-car parking at 29 Streatfield Rd via the likes of Ashley Bierman of Ray White Double Bay and Paul Biller of Biller Property.
The grand residence has beautiful outlooks towards the city skyline, rooms flowing to “sun-kissed” terraces and a swimming pool in manicured gardens, according to promotional material being sent to potential buyers.
CoreLogic records show the home, on a 721 sqm block, was bought by Wharton, whose title is Group Executive, Program Delivery, and his radiologist wife, Marina-Portia Anthony, for $6,045,000, upon his return to Australia to join CBA after a stint with Citibank in New York and Hong Kong.
He has 20 years experience in the financial services globally and holds a range of degrees from the University of Sydney, UTS and Tsinghua University in Beijing.
The Wentworth Courier has recently exclusively reported on other examples of the “Smart Money” listing their properties.
These include Westpac’s head of global funding Alexander Bischoff and his wife, Leah, who have listed with their five-bedroom ‘contemporary masterpiece’ at 41 The Crescent, Vaucluse, with an $8 million guide via Alexander George and Peter Leipnik of BadgerFox and Warren Ginsberg and Claudia Brunker of Ray White Double Bay.
They have an $8 million guide.
And Ryan Watson of AMP Capital has listed his warehouse-style apartment at 27/15-19 Boundary St, Darlinghurst with a $1.65 million price guide with Warren Ginsberg of Ray White Double Bay.
Elsewhere around Sydney, Citibank Asia Pacific HR manager Alexandra Taylor has listed her renovated her Balmain residence of 10 years; Money man Ross Greenwood has sold his Northbridge home for close to $5 million and Hedge Fund manager Rob Luciano has listed his luxury Balmoral Beach home with a $12.5m to $13.5m guide.