The Sell: Hollywood era not quite done yet as James Packer takes Beverly Hills off listing sites
It appears James Packer’s Hollywood era may not be done quite yet after the billionaire took his Beverly Hills mansion down from multiple listing websites late last month.
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Billionaire James Packer took his Beverly Hills, Los Angeles, mansion down from multiple listing websites late last month.
The luxury offering had come with a rigid $US85m ($132m) asking price during its seven months online.
No word from within his Consolidated Press group on what’s behind the decision, but it appears Packer’s Hollywood era may not be done quite yet.
The billionaire splits his time between California, Aspen, an Agentine polo ranch and a beach house in Cabo San Lucas, on Mexico’s Baja California peninsula, as well as sailing the Mediterranean, where his yacht IJE recently departed Monaco to spend the weekend in Antibes.
The decision by Packer to list the mansion last September followed his ex-wife Erica’s decision to have the couple’s three children educated in London.
The 2694 sqm house boasts seven bedrooms, an eight-car garage, wine room, home theatre and cigar room.
There are products from Australia around the home, with The Sell spotting a Vegemite jar on the kitchen shelves along with Aesop bottles in the bathrooms in the marketing photos.
The home was bought for $US59.5m, having been once owned by actor Danny DeVito and wife Rhea Perlman, who sold it in 2015 for $29m after living there for 21 years.
It was once rented by Ben Affleck and Jennifer Lopez.
It was in 2015 when Packer sold his Vaucluse mansion for $70m. He retains a two-floor apartment in Crown Resorts’ Barangaroo tower, but with trips back to Sydney a rarity nowadays there are whispers he could offload, though presumably not until the complex secures a sellout.
Bloomberg reported there is now a $90m asking price on the unsold penthouse, which has been on the market at $100m since 2021.
CELEBRITY RENOVATOR DUO LOOK TO FLIP COAST DUPLEX
Celebrity renovators Kyal and Kara Demmrich have built a duplex in Long Jetty and are now selling them both at June auction.
Carpenter Kyal and designer Kara filmed the construction of the side-by-side coastal homes in a series on YouTube called Bay Builds.
They have been listed through McGrath Terrigal agent Trevor Hamilton, with McGrath boss John McGrath auctioning the properties on June 29.
Both 1/89a Eloora Rd and 2/89b Eloora Rd, come with a $2.5m auction guide – well above the three-bedroom $1,025,000 suburb median price calculated by PropTrack.
They were built 500 metres from Blue Bay Beach during 2023 to 2024 with Rams construction loan financing.
It took over a year to secure development approval from Central Coast Council, highlighting the concerns being regularly raised by Planning Minister Paul Scully about construction delays.
They bought during Covid restrictions in 2021 for $1,310,000.
There is 302sq m internal living space on each of its 348sq m blocks.
House 1 has three bedrooms and three bathrooms plus a wine room and a long pool and spa.
House 2 has three bedrooms, three bathrooms, a wine room, a media room and a circular pool.
“But each has its own unique style interior,” Ms Demmrich said.
“House 1 is light, bright and French-inspired; House 2 is warm, moody and has a coastal villa feel.
“Both homes boast luxurious resort-style living with our signature coastal look,” she said.
Since coming third on the Nine Network’s series The Block: Fans v Faves in 2014, and taking home a profit of $567,250 in prize money, they have been involved in dozens of projects.
Their first renovation project after The Block was a four-bedroom property at Killarney Vale in 2015. It sold for $735,000, having been bought for $285,000 in 2008.
In 2018 the couple flipped a property at 82 Pacific St, Long Jetty, which sold for $1.59m, having bought the “asbestos shack” for $710,000 earlier that year.
“We hear a lot of horror stories, but it’s often the smaller jobs where people run into trouble,” they recently noted. “Many fall into the trap of assuming they can do everything themselves.
“It’s interesting to see the Hipages research say Aussies are most likely to make DIY mistakes in the bathroom,” they added.
EX-SOCCEROO SCORES WITH SPEEDY SALE OF BONDI BEACH APARTMENT
Former Socceroo James Holland scored twice midweek – firstly when he snappily sold his Bondi Beach rental apartment midweek.
Then Holland, who plays in midfield for Austria Wien, scored the winning goal in his side’s victory over Hartberg in the second leg of the UEFA Conference League playoff to clinch a qualifying spot.
The professional football player had listed his investment with $1.2m expectations for its scheduled late-June auction.
The sale price was undisclosed but understood to be $1,285,000, after being on the market for 13 days.
He bought the 1920s two-bedroom, one-bathroom beach pad as an investment in 2018 for $950,000, reflecting annual growth of 5.15 per cent.
The 1/236 Campbell Pde space was listed with an $825-a-week asking rental in late 2022, having suffered a marked rental impact in the early 2020 months of Covid when its asking rent fell quickly from $500 a week to $400 a week.
The 68sq m period apartment was marketed as a “wonderful character”.
The recently updated block of 12 sits at the north end of Bondi Beach with a shared rooftop terrace.
There is a current $1300 rental offering at 3/236 Campbell Pde through Matthew Serrao at Raine & Horne Double Bay.
It is a recently renovated two-bedroom, one-bathroom with bay window, ornate cornices and timber floors. It was last sold in 2019 at $870,000.
Holland debuted for the Australian national team in 2008. He was part of the Socceroo squad at the 2014 World Cup.
Originally from Newcastle, the 35-year-old, who played for the Central Coast Mariners and the Newcastle Jets, is also seeking to sell off his Wamberal townhouse.
DINOSAUR ARTIST LISTS BONDI JUNCTION PENTHOUSE
Liane Rossler, co-founder of Dinosaur Designs, has listed her Bondi Junction penthouse investment.
It has been scheduled for June 22 auction through McGrath Paddington agent Georgia Cleary.
There is a $1.7m guide for the two-bedroom, one-bathroom space with undercover parking for two.
With excellent crossflow of air, there is 132sq m single level space including a 38sq m terrace. It features blackbutt floors.
The Old South Head Rd offering comes with Ben Eden St entrance.
It is the first time it has been offered in three decades, having been bought in 1993 for $275,000 by the artist, designer and curator who has spent the last two decades focused on projects that intersect design, sustainability and the environment.
She has been a member of the Better Places Advisory Group at the NSW Department of Planning and Environment.
Rossler, who went on to be the founder of Superlocalstudio, lived in the apartment before relocating to Queens Park with architect husband Sam Marshall.
The top floor space was last listed for rent at $1550 a week last September.
A lower-level two-bedroom, one-bathroom apartment sold last November at $806,000 was advertised for rent at $1200 a week last month, reflecting a gross rental yield of 7.7 per cent.
Dinosaur Designs was started at Paddington Markets by Rossler and fellow City Art Institute students Stephen Ormandy and Louise Olsen in 1985, with their first exhibition at Cash Palace a year later. Rossler departed in 2010 while retaining a one-third share of the business.
COASTAL DREAM WILL HOPEFULLY WAKE BUYERS
Mortgage broker and entrepreneur Andrew Spira and his estranged partner Julia Maguire, boss of The Capital Network, have listed their Shoal Bay investment property.
Marketed as a “dream coastal home with endless opportunity” by its local PRD agents Dane Queenan and Tristan Esquilant, the four-bedroom, 1985-built home was bought by the couple in 2020.
They paid $670,000 for the home as a coastal retreat after the onset of the Covid pandemic.
They’re expecting to secure about $1.05 million at its July 6 auction.
Since its purchase it’s been an investment, where at its peak in late 2021 it was asking $780 a week.
But when the Covid-prompted boom faded in regional areas, the rent came down to $695 a week, and then to $640 by mid-last year.
Set on 510sq m near Shoal Bay Beach, the home has two levels, an open-plan kitchen, living and dining area, and a rear yard with a covered alfresco area.
One of the four bedrooms is self-contained, accessed externally.
The couple offloaded their Vaucluse mansion for $10 million last June to Dr Elaine Quynh-Huong Hoang, having paid $9 million in 2021.
Spira also offloaded his one-bed Vaucluse apartment last October for a disappointing $950,000 through Biller Property, six months after he had paid $985,000.
HIPPIE SPECIAL SHAKES MARKET
An 8ha Upper Main Arm Northern Rivers hinterland offering with futuristic geodesic dome has hit the market with a $1.69 million guide.
The lattice-like structure with triangular glass elements dates back to the 1970s hippie era.
The Main Arm Rd offering featured in a docuseries about hippies called Mullumbimby Madness and Magic.
Last sold for $545,000 in 2015, it has been listed through Byron Shire Real Estate.
TERRACE VERY MUCH IN VOGUE
A recently renovated Woollahra terrace with bespoke interiors by designer Phoebe Nicol has been listed at $7.5 million by Jacqueline Solomon, the widow of Double Bay Chamber of Commerce chair Greg Solomon.
Maclay Longhurst and Emily Davidson of Sotheby’s hold the three-bedroom, three-bathroom Jersey Rd listing.
The Vogue Living-featured terrace was described as having rich architectural details in rooms that breathe.
DELIVERING A LITTLE PROFIT JOY
Baby goods entrepreneur-turned-luxury house flipper Chloe Brookman has successfully sold her latest project, Rainbrook House in Coogee.
Brookman, half of the Olli and Ella enterprise, secured the sale above its $5.8 million guide through Alex Phillips at PPD.
The 1930s home sold for $4.315 million last year to Brookman and husband Charlie Wheeler.
Got a property news tip? Email jonathan.chancellor@news.com.au
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Originally published as The Sell: Hollywood era not quite done yet as James Packer takes Beverly Hills off listing sites
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