James Packer, the colorful Australian casino tycoon, has set a national property price record with the $70 million sale of a colossal six-storey mansion.
The sprawling home was built for himself and Erica, then his wife, who reportedly claimed it was like a “shopping center”.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at email@example.com.
AAP rviled that The buyer of James Packer’s $70 million Sydney mansion has been confirmed as renowned Australian-Chinese billionaire businessman Chau Chak Wing. Dr Chau, best known for his $20 million donation to the Frank Gehry-designed crumpled paper bag building at Sydney’s University of Technology unveiled in February, the report said.
About four months after moving into “La Mer” in 2013 – a property which took three years to build and has a rooftop lap pool, cinema and 20-car underground garage – Mr Packer and his wife split. Neither chose to live on the sprawling 36, 000 square-feet estate, which is in the exclusive Sydney suburb of Vaucluse.
But the jet-setting pair – he is now reportedly dating Mariah Carey, she is with Seal – have now sold the property for £33 million [$AUS70 million], the highest price ever paid for an Australian property. Despite the record price, they are expected to only just break even.
Read the full story: click here
The Telegraph By Jonathan Pearlman, Sydney
Australian billionaire James Packer has scored another
coup against Las Vegas gaming kingpin Steve Wynn.
Jesse Waits, who has been running Wynn’s XS and Tryst
nightclubs, has resigned, the Review-Journal More…
James Packer, an Australian media and casino
mogul, have reportedly been looking at business
opportunities in Israel in the technology sector
and purchased a home in Caesarea, the habitat
for the well-heeled More…