James Packer seeks $22 million for Bondi Beach pad

James Packer's estate agent has signalled $22 million-plus hopes for the billionaire's Bondi Beach pad.

It's a four-storey Campbell Parade property, which is set to hit the market in February.

The four-bedroom, six-bathroom home has an eight-car garage, gym, cinema, winter garden and six terraces.

The Bondi Beach pad has views of the beach. The initial report of the pending listing came last July in News Ltd papers when property reporter Bronwen Gora reported its $20 million plus mumurings.

But its McGrath listing agent Andrew Livingston has now acknowledged the official pricing was derived from September 2012 sales at the nearby Swiss Grand Hotel redevelopment into the Pacific Bondi Beach, where its ''lighthouse'' penthouses are being offered at $40,000 or so a square metre. The 800-square-metre Packer pad pricing rates at close to $30,000 a square metre.

Last September the first of the "lighthouse" penthouses sold to a European buyer.

The penthouses, which range in size from 152 to 282 square metres, are priced between $6 million and $15 million. 

The 95-apartment residential, hotel and retail project has been designed by Andrew Andersons of PTW Architects for developers Eduard Litver of the Capit.el Group and Allen Linz of Rebel Property Group.

As Property Observer noted some speculators secured apartments as a long-term property option given construction will not be completed until November 2015 at the earliest.

Existing hotel bookings at the Swiss-Grand Resort & Spa mean construction won't begin until mid-2013.

The cheapest off-the-plan sale started at $575,000 for a 35-square-metre studio, with prices peaking at the initial September offering at $10.3 million for one of the lighthouse penthouses.

The price per square sales ranged from about $15,000 to $45,000, according to CBRE agent Ben Stewart.