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From The Australian:
Billionaire James Packer has sold his sprawling Vaucluse mansion for more than $60 million, the highest price ever paid for a property in Australia.
…While the sale details remained confidential, sources confirmed contracts had been exchanged, and said that based on property valuations, the sale price may emerge as closer to $80m.
Because the buyer reportedly is an Australian, it will not be subject to Foreign Investment Review Board review.
Another bell gongs the top.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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