Wentworth MP Dave Sharma sells Paddington terrace for $3.15m

Wentworth MP Dave Sharma sold his Paddington terrace for $3.15 million on Friday night after a knockout pre-auction offer was accepted just a week after his family home hit the market.

BresicWhitney Darlinghurst’s director Maclay Longhurst said Mr Sharma was “really happy” with the process and the outcome.

“There were a couple of buyers interested in it but one buyer stood out and the vendors were happy to sell pre-auction,” Mr Longhurst said. “It was a knockout offer.”

The sale price far exceeded expectations for the property, which was was guided at $2.8 million.

The former ambassador to Israel recently traded up from the Paddington terrace to a five-bedroom house near Centennial Park for more than $4 million.

“It’s been lovely. It’s a beautiful house, but I have three daughters, and it’s just getting too tight where we are now that the two eldest are teenagers. We just needed a bit more space,” Mr Sharma said.

Sharma and his wife Rachel Lord moved to the eastern suburbs from the Upper North Shore in 2018 when he was contesting the local seat in a by-election following former prime minister Malcolm Turnbull’s decision to quit politics.

Soon after Independent Dr Kerryn Phelps won the by-election, Mr Sharma bought his current Paddington terrace for $2.6 million a week before it was scheduled to go to auction. He reclaimed Wentworth for the Liberal Party in the federal election a year later.