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Record Price for Vaucluse’s Palace of Broken Hearts

By Danielle Banton

La Mer, the sprawling Sydney Mansion, was built by casino mogul for his wife Erica Baxter in 2010. The home features a rooftop pool, cinema, and 20 car underground garage, not to mention some of the best views of Sydney Harbor.

Sadly, the couple split up before they could even move in-Forcing Packer to sell his “love nest”. It is reported the mansion has sold for a record breaking $70,000,000 to Chinese billionaire Chau Chak Wing. Despite the massive price tag it is rumored that Packer has barely broken even, having spent $30,000,000 on amalgamating three Vaucluse properties and another $40,000,000 on a mammoth extension.

The sale has affirmed Sydney’s Eastern suburbs as some of the most lucrative and desirable properties in the world’Craig Pontey Director at Ray White Double Bay.

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