James Packer buys new Los Angeles home for $80 million

BILLIONAIRE James Packer has spent about $80 million on an expansive home with a range of incredible features including a cigar room, movie theatre and beauty salon.

James Packer' bought a new Los Angeles mansion. Picture: Joe Bryant

BILLIONAIRE James Packer has splashed out about $80 million on a Los Angeles home once owned by actor Danny DeVito.

It’s Mr Packer’s biggest property purchase since leaving Australia. The home includes seven bedrooms, an eight car garage, all marble kitchen and outdoor swimming pool.

There is also a beauty salon, cigar room, extensive wine cellar and private cinema spread across the nearly 2700sqm property.

James Packer moved to Los Angeles to be closer to family. Picture: News Corp

Mr Packer purchased the Holmby Heights property for nearly $25 million below the asking price of $115 million, reported London’s The Sun.

Devito and his then wife actor Rhea Perlman had lived in the home 21 years before selling it in 2015 for about $27 million.

The home has a massive pool area. Picture: Joe Bryant.

Packer purchased it for considerably below the asking price. Picture: Joe Bryant.

The home was once owned by Danny DeVito. Picture: Alberto E. Rodriguez/Getty Images

It was then bought by property developers who sold it on to Mr Packer.

It is believed Mr Packer decided several months ago to purchase a home in Los Angeles to be closer to his children who live in California with their mother Erica Packer.

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There is an expansive marble kitchen.

And plenty of other features.

The home is spread across 2700sqm. Picture: Joe Bryant

He had previously been renting a home owned by veteran actor Warren Beatty.

Earlier this year, Mr Packer resigned from the board of Crown Resort for mental health reasons.

His new purchase came as ex-Mariah Carey prepared to release her first single since their breakup.

There is a cinema room.

Mr Packer is no stranger to pricey real estate deals. In 2015 he smashed the Australian record for a house sale when he sold Vaucluse mansion La Mer for $70 million.

He also set a record in 2016 by splashing $60 million on a new Sydney apartment — breaking the Australian apartment price record.

Forbes reported Mr Packer had a likely net worth of about $3.9 billion.

Originally published as James Packer buys new Los Angeles home for $80 million