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Packer pulls luxury home off the market

Billionaire James Packer has taken his Sydney home off the market, choosing to keep the lavish apartment despite spending a lot of time abroad, The Australian reported.

The four-level apartment overlooking Bondi Beach was put on the market for around $20 million in March through agents. Sources say there has been interest among buyers.

“It’s not on the market at this time,” a spokesman for Packer told The Australian. 

It is not known why he withdrew the property from sale, particularly as it would have little competition given the historic lack of Sydney luxury homes available for purchase during the winter monhs..

He has used it off and on as a bachelor pad after he bought the former petrol-station site in the mid-1990s for $2.25m to develop the 1200sq m property, according to The Australian.

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