Merchant bankers still riding Mosman merry-go-round, despite bonus reductions
The merchant bankers’ Mosman merry-go-round is still somewhat in motion despite the global financial crisis aftershocks.
Nigel Smyth, an executive director at Macquarie, and his wife, Diane, have upgraded from Clifton Gardens to Balmoral’s golden mile and its premium Sydney Head views, but pocketed $1.7 million in the process.
They have spent $4.8 million on a five-bedroom, three-bathroom Hopetoun Avenue house initially listed with $6 million hopes in early 2011 and more recently at $5.2 million through LJ Hooker Mosman agent Geoff Smith. The contemporary-style house built in 1994 comes with pool, four-car garaging and a 1,500-bottle temperature-controlled cellar.
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The Smyths sold at Clifton Gardens in Mosman for $6.5 million. The five-bedroom Kardinia Road property (pictured above), which sold through Richardson & Wrench Mosman agent Richard Simeon, sits on an 823-square-metre block. It had views across the harbour to Rose Bay and Point Piper.
It was bought for $5.12 million in 2005.
Trading up in the 2088 postcode has been less frequent in recent years following the global financial crisis.
The suburb’s latest listing by the former boss of St George Bank comes with $10 million hopes.
