Agents combine for Packer mansion sale

The six-level mansion, which sports harbour views in the ritzy suburb of Vaucluse, was officially sold for the highest price ever paid for a property in Australia.

Despite the record price, Packer is expected only to break even.

Billionaire mogul and fresh boo of the newly-minted Hollywood walk of fame addition Mariah Carey, James Packer, has sold his luxury Vaucluse mansion for at least $60 million, breaking Australian real estate records.

Chau is a Guangzhou-based property developer and investor who has donated more than A$2 million to Australian political parties in the past decade, Fairfax said.

The younger Packer moved away from the family’s media interests to focus on the gaming sector and has increasingly expanded his business activities overseas.

The six-bedroom main residence at La Mer includes underground parking for 20 cars, vast entertaining spaces and two self-contained staff quarters under the rooftop lawn and lap pool, according to Fairfax. He is now building a new £2.3 billion, 1100-room casino resort in Las Vegas, which is due to open in 2018.

Regardless, the deal shatters the previous national record of A$57.5 million set in 2009 for a waterfront mansion in Perth and is head and shoulders above Sydney’s previous best, set at a mere A$52 million in 2013 by Chinese businessman Wang Zhijun.