James Packer cashes out of Sydney with Rosemont Avenue, Woollahra sale

Billionaire James Packer finally cashed out of his personal property holdings in Sydney when his last property, a Woollahra trophy home, recently settled at $8,375,000.

The six-bedroom home sold on extended settlements terms last November through Ray White agent Elliott Placks to mystery bidders represented by buyers’ agent, Janne Sutcliffe, from Change of Address.

They were the Henley Homes tycoon Rob Bowen and Skye Holden, the Sydney socialite.

Financing was not the reason behind the extended terms because the purchase came without any registered mortgage. 

The home purchase looks similar in design to her family's former Point Piper residence.

It was part of a family compound amalgamated by the late media tycoon Kerry Packer, who bought on Rosemont Avenue in 1965 for £36,000.

The sale ends Packer’s real estate ties with his hometown, barring the upcoming $60 million off-the-plan purchase in his Barangaroo casino high-rise block.

He sold his Bondi Beach pad for $29 million last year and La Mer in Vaucluse for $70 million in 2015. 

This article was first published in the Sunday Telegraph.