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Australian casino tycoon offloads colossal Sydney mansion for $70 million

James Packer, the eccentric casino tycoon, has sold the “shopping centre-sized” mansion for record price.

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”.

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

 

James Packer

Steve-Wynn and james-packer

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

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…

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