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07 November 2010

James Packer Bondi Beach Pad No Jackpot, by Greg Tingle - 7th November 2010

G'day punters, casino and media millionaires and billionaires, politicians and one and all. What's happening with Australia's casino and new media king, James Packer, on the domestic - home front? Well, Packer's Bondi Beach based pay is not enjoying the same financial success and the majority of his other ventures we learn. Media Man and Gambling911 put on the thongs and board shorts checking out the casino kings' property happenings at Bondi Beach...

The sellers wanted in the region of $8 million-plus, but the buyers stopped their bidding at $7 million. It was the Bondi Beach house that a young James Packer, casino and gambling mogul in the making, established as his first home in the 90s.

A total of 3 registered bidders still say it failed to sell at this weekend's Raine & Horne auction when offered by the New York-based Lochtenberg family. It last sold when Packer's former fiancee, Kate Fischer, pocketed a cool $2,825,000 in 2000. The 210 sq m pad had been transferred fee free from Packer's development company into Fischer's name in October 1998, showing his well known generosity of heart and spirit.

Packer and Fischer had been in a 5-year personal relationship during which the Notts Avenue property was purchased for a seemly bargain priced $425,000 in 1995. Subsequently Packer moved into a 3-level apartment on nearby Campbell Parade, which remains his abode. He and his wife Erica have also spent roughly $30 million on a Vaucluse home known in today's lingo as "residential compound", not be be confused with gaming figure Calvin Ayre's 'Bodog Compound'.

Packer began living on the Bondi Beach "golden mile#2) sharing an $800-a-week rental apartment with mate David Gyngell in the beautiful Pacific Terraces complex elsewhere on Notts Avenue. JP's late father Kerry Packer had helped finance the Pacific Terraces development by Bill Shipton in 1983.

The Notts Avenue house has been rented out by the Lochtenbergs at about $2500 bucks a week since their purchase in circa 2000.

Ok readers, we know you want to know more about Packer's gaming and media deals, so stick with us as there's much more of that coming on the horizon. It is a Sunday here at Bondi Beach, Sydney, Australia. With that said, we might pop into Berg's Gaming at the famous Bondi Iceberg's club later on today to breath in the fresh air and view, that our decade of blood, sweat and tears in news media has afforded us.

Media Man and Gambling911 wish the Packer's well with their professional and personal lives, and hope to report a positive result for them on the home front very shortly. With Media Man world headquarters just a stone's throw from the Packer's, you can expect an update on this Packer goss er news, much sooner than later.

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Wrap Up...

Readers... er, punters, how did you like our domestic James Packer report? Tell us in the forum. If you have a bet, please bet with your head, not over it, and for God's sake, have fun.

*Greg Tingle is a special contributor for Gambling911

*Media Man is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis. They also publish Property News Media

*The writer owns shares in Crown Limited

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