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Media magnate Packer's boat palace put up for sale

April 13, 2011 - Sydney

Gaming and media magnate James Packer has listed his 46 m motor yacht, Z Sydney, on the market just over a year after it was first moored in Rose Bay.

According to the Daily Telegraph, the asking price for the cruiser is 22 million Australian dollars, roughly the same amount Packer paid in January last year.

Confidential has learned that the name of the yacht has been changed to "Ares" - as in the Greek god of war - to make it more appealing to European buyers and lessen the publicity of the sale.

Capable of accommodating 12 guests and eight crew, the vessel has one master, two double and two twin rooms and is currently anchored somewhere in the western Mediterranean.


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