Inside James Packer's Holmby Heights, Los Angeles trophy home
Billionaire James Packer has spent about $80 million on a Los Angeles home once owned by actor Danny DeVito.
The home includes seven bedrooms, an eight car garage, all marble kitchen, pool, beauty salon, cigar room, cellar and private cinema on the 2700 sqm property.
James Packer reportedly made the acquisition moved to be closer to family.
Packer purchased the Holmby Heights property for nearly $25 million below the asking price of $115 million, reported London’s The Sun.
Packer's new home has a cinema room: Picture Joe Bryant
Devito and his then wife actor Rhea Perlman had lived in the home 21 years before selling it in 2015 for about $27 million.
He set a record in 2016 by spending $60 million on an off the plan One Barangaroo, Sydney apartment — breaking the Australian apartment price record.
Forbes calculates Packer had a likely net worth of about $3.9 billion.
The marble kitchen: Picture Joe Bryant
Damon Kitney, who is set to launch The Price of Fortune: The untold story of being James Packer, published by HarperCollins, wrote Packer decided at the end of June to buy a property in Los Angeles, which for the past five years has been home to his second wife, Erica Packer, and their children Indigo, Jackson and Emmanuelle.
“I just want to say what an incredible job Erica is doing bringing them up,” Mr Packer said in an interview with The Weekend Australian last October.
“I always thought she’d be a good mother and she is proving that every day … LA is a really terrific place for them to be. There is a lot of positive energy, a lot of positive affirmation there. And there is not the Packer fishbowl that there would have been in Sydney. They have anonymity there that they don’t have in Sydney. That is really healthy for them.”
The exterior of the home: Picture Joe Bryant
He previously has rented the guesthouse of movie legend Warren Beatty on the storied Mulholland Drive in Beverly Hills.
He divides his time between the home he shares with Ms Packer in Aspen, his polo ranch in Argentina and a resort villa in Los Cabos, Mexico.
Packer’s purchase of the new Beverly Hills home will be funded by the sale of EJI — the first initials of his three children — for which he reportedly has been asking $65.7 million, and by the sale of his Bondi Beach apartment.
Kitney wrote in The Australian that Packer has no immediate plans to resume doing business in Hollywood.
