The buyer of a James Packer's $70 million Sydney mansion has been confirmed as renowned Australian-Chinese billionaire businessman Chau Chak Wing.

Dr Chau, best known for his $20 million donation to the Frank Gehry-designed crumpled paper bag building at Sydney’s University of Technology unveiled in February, has now purchased the Vaucluse property. “We can confirm that the Chau family has decided to move from the family home in Hunters Hill to…