PHOTO: Erica Packer. WHO
Erica Packer, the former partner of billionaire James Packer, has taken everyone by surprise with a generous gesture—she has gifted her opulent Vaucluse residence, valued at $4.3 million, to her sister, Joanna.
This property transfer initiative, which commenced in 2019, saw Erica officially hand over the property’s title to her sister for a symbolic sum of $1, as reported by The Sunday Telegraph. Despite her nomadic lifestyle, splitting her time between Los Angeles, Aspen, and London, Erica had previously retained a 5% stake in the Burrabirra Avenue residence. However, she has now transferred full ownership to her sister and her brother-in-law, David Hunter.
Originally acquired in 2006 for $4.3 million by a company associated with James Packer, this lavish four-bedroom, four-bathroom house sits on an expansive 487 square meters of land. James, who was once Australia’s wealthiest individual, transferred the property into Erica’s name when they were in a relationship. The couple eventually got engaged and married in 2007, but their marriage ended in separation in 2013, shortly after moving into their magnificent $70 million Vaucluse mansion known as “La Mer.” Despite their separation, Erica and James have successfully co-parented their three children, and their relationship remains amicable.
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More recently, the Packer family enjoyed quality time in Sydney at James’s extravagant $72 million Crown Barangaroo apartment. Erica took charge of renovating the apartment, transforming its previous opulent aesthetics into a fresh and contemporary style. They were also photographed boarding Packer’s private jet in Sydney, accompanied by their three children.
SOURCE: THE DAILY MAIL
Erica Packer gifts her Vaucluse house to her sister, as fellow rich listers quietly swap property