James Packer’s mansion sold for record $70M

The highest price ever paid for an Australian property has gone to James Packer’s Sydney mansion.


Billionaire James Packer has sold his Sydney mansion La Mer for the highest price ever paid for an Australian property. While the exact price hasn’t been disclosed, it is believed to be between $60 and $70 million.

Packer’s sale eclipses the previous Sydney record of $52 million for Altona in Point Piper in 2013, and the national record of $57.5 million for a Perth mansion in 2009.

The Daily Telegraph reports that an Australian buyer purchased the Wentworth Road, Vaucluse mansion which was sold by Christie’s International. Packer purchased the home in 2009 for $18 million, spending an additional $11 million to combine it with two adjacent properties. Packer and his ex-wife Erica Baxter only lived in the home for about four months after a three year build before they separated in 2013.

In March, Packer revealed he had bought a house in Tel Aviv next door to Israeli Prime Minister Benjamin Netanyahu.


thanks ‘the realestate conversation’