Guangzhou-based tycoon Chau Chak-wing has bought Oz mogul James Packer’s Sydney mansion for an Australian record A$70 million (HK$398 million), says a report.
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“The sale … could boost the value of Australia’s other trophy homes, particularly in the Harbour City [Sydney]”.
REB understands that the transaction was jointly handled by Ken Jacobs from Christie’s global Real Estate and Michael Pallier from Sotheby’s worldwide Realty. Packer, who is dating pop star Mariah Carey, also has a home at Sydney’s Bondi Beach but is frequently overseas.
“Mr. and Ms. Packer have entered contracts for the sale of their property in Vaucluse to Australian buyers”, a spokesman for Packer’s Consolidated Press Holdings Ltd. said in an e-mailed statement. He and his Crown Resorts empire own numerous casinos across Australia and in Macau, as well as Crown Aspinall’s in Mayfair in London, and a casino in the Philippines.
“The plan is to create an iconic global business”, he told reporters this week during a brief visit to Australia. Love and marriages might not be eternal, friends.
The sprawling Sydney home was built for himself and his then wife, Erica, who reportedly claimed it was like a “shopping centre”.
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The sale far exceeds 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.
