Entertainment

Billionaire Gretel Packer sells her Sydney office suite overlooking the Domain for $13.5 million

The rich get richer! Billionaire Gretel Packer sells her Sydney office suite overlooking the Domain for $13.5 million


She officially became a billionaire after she and brother James split late father Kerry Packer’s fortune in 2015.

And Gretel Packer, 55, is set to add to her impressive fortune after selling the family office headquarters in Sydney’s Hudson House for $13.5 million, according to Domain.com.au.

The whole-floor suite overlooks Sydney’s iconic Domain.

Location location: Gretel Packer, 55, is set to add to her impressive fortune after selling the family office headquarters in Sydney’s Hudson House for $13.5 million

Packer purchased the office less than four years ago for $8.37 million. 

It was purchased from the heiress by Ramsay Health Care chairman Michael Siddle under his Woolwich Investments company name.

The landmark Macquarie Street building boasts 17 levels of office space, all enjoying an Eastern aspect and views over the Botanical Gardens and Sydney Harbour.

Seller: Packer (pictured in 2016) purchased the office less than four years ago for $8.37 million

Seller: Packer (pictured in 2016) purchased the office less than four years ago for $8.37 million

New owner: It was purchased from the heiress by Ramsay Health Care chairman Michael Siddle under his Woolwich Investments company name

New owner: It was purchased from the heiress by Ramsay Health Care chairman Michael Siddle under his Woolwich Investments company name

Gretel and younger brother James, 54, settled their father’s $1.25 billion will six years ago. 

The older sibling collected over a billion dollars at the time, which she has since reportedly more than doubled.

Negotiation over the terms of Kerry’s will took a decade after the media mogul’s death. 

‘Stages of the negotiation with Gretel were difficult, but a framework for future resolution was achieved,’ James told the Weekend Australian at the time. 

Rooms with a view: The landmark Macquarie Street building boasts 17 levels of office space, all enjoying an Eastern aspect and views over the Botanical Gardens and Sydney Harbour

Rooms with a view: The landmark Macquarie Street building boasts 17 levels of office space, all enjoying an Eastern aspect and views over the Botanical Gardens and Sydney Harbour

Despite the resolution forecasting a debt-free future for Packer’s Consolidated Press Holdings it didn’t do much for the bond between the siblings.

‘We have not spent a lot of time together. She is getting on with her life and I’m doing the same,’ he said.

While the terms of the deal have still not been revealed, Packer did admit closing the ‘dealing-with-my-obligations-to-my-sister chapter’ was a relief.

Gretel is the mother to one daughter, Francesca Packer Barham, 26, with ex Nick Barham.  

Estranged: Gretel and younger brother James, 54, settled their father's $1.25 billion will six years ago. Pictured in 2003

Estranged: Gretel and younger brother James, 54, settled their father’s $1.25 billion will six years ago. Pictured in 2003

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