James Packer's former Notts Avenue, Bondi Beach home sells for $7 million
The Bondi Beach house that the young James Packer built as his first home in the mid-1990s, has sold.
The vendors, the New York-based Lochtenberg family, accepted $7 million for the trophy home. It had been most recently listed through McGrath agent Bethwyn Richards, and was sold by Peter O'Malley of Harris Partners Real Estate.
When the property went to auction in 2010, the Notts Avenue sellers wanted $8 million-plus, but the buyers stopped their bidding at $7 million.
It was last sold when Packer's former fiancee, Kate Fischer, pocketed $2,825,000 in 2000.
The freestanding house enjoys ocean and coastal views, located in a cul-de-sac opposite the Icebergs, footsteps to sand, surf and famed coastal walk.
The 210 square metre residence at 14 Notts Avenue had been transferred from Packer's development company into Fischer's name in 1998.
James Packer and Kate Fischer had been in a five-year relationship during which the Notts Avenue property was bought for $425,000 in 1995.
Subsequently James Packer moved into a three-level apartment on nearby Campbell Parade, which remains his home.
Title Tattle has been around long enough to recall James Packer, well actually he was called Jamie back then, began living on the beach strip sharing an $800 a week rental apartment with David Gyngell in the Pacific Terraces complex elsewhere on Notts Avenue.
His late father Kerry Packer had helped finance the Pacific Terraces development by Bill Shipton in 1983.
The Notts Avenue house has been rented out by the Lochtenbergs at about $2,500 a week since their purchase in 2000.
At one stage, the tenants were Oliver Curtis and his then mate, John Hartman.