James Packer reportedly snaps up $82 million Beverly Hills compound

Australian billionaire James Packer has splashed out a whopping $82 million buying Danny Devito’s former home in Beverly Hills, California. 

According to London’s Sun newspaper, the 51-year-old splurged on the Hollywood pad – the biggest property purchase since leaving Australia five years ago – to be closer to his children.

Set on 2694 square metres, the sprawling compound includes a seven-bedroom main house, several guesthouses and an eight-car garage.

There is also a stand-alone entertainment building which includes DeVito’s original screening room, a wine room and a cigar room.

The extravagant home was home to DeVito and his wife, actress Rhea Perlman, for more than two decades. They sold up in 2015 for $29 million.

It was bought by property developers Stuart and Stephanie Liner who have extensively renovated it since, adding a private elevator from the closet in the master suite to a makeup room downstairs, according to another website.

Mr Packer nabbed the keys to the property for $34 million below the asking price. The property was listed in May for $116 million.

It comes after Mr Packer off-loaded his Bondi Beach bachelor pad a month ago for $29 million, smashing the suburb record.

The vendors renovated the property extensively adding an elevator from the closet to the make up room. Photo: Hilton & Hyland

It was listed in May for $116 million Photo: Hilton & Hyland

It is Mr Packer’s first major property purchase since he left Australia five years ago. Photo: Hilton & Hyland