James Packer

Under siege billionaire mate of James Packer’s is left with an ENORMOUS hole in the ground

PHOTO: It has been a week billionaire and James Packer mate Hamish Douglass would rather forget 

  • Besieged billionaire Hamish Douglass’ house is under a massive renovation
  • This week Douglass split with his business partner and his wife over just two days
  • Neighbours in the street are ‘very sad’ about the split  for ‘the four children’
  • One said Alex Douglass was ‘a lovely lady’ and Hamish was ‘reclusive’
  • The  works on the former convent are so big it’ll take over three years
  • Huge pit goes so deep a neighbour said  they’d ‘almost drilled through to China’

It has been a week billionaire and James Packer mate Hamish Douglass would rather forget – and now he is stuck with a massive 20m hole in the ground as he pushes ahead with a massive $4.5 million renovation of his Sydney mansion.

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Douglass this week announced his separation from his wife of 30 years, Alex, and witnessed his longtime business partner Brett Cairns abruptly walk out of Magellan Financial, their $116 billion equities fund management company.

Regardless, work is continuing on the Douglass’s family home at Neutral Bay on the city’s north shore where a huge pit has been bored beneath the family home by three rock drills hammering away on weekends.

Neighbours who have had to endure the noise expressed sadness over the couple’s marriage split, saying Alex Douglass was ‘a lovely lady’ and it would be hard on the four children.

One neighbour said of the rock sawing and excavation which extends up to 20m below street level is so deep ‘I think they almost have drilled through to China’.

Investment guru Mr Douglass and his estranged wife Alex released a statement about their ended marriage after Mr Cairns’ sudden walkout on Magellan plunged shares in the onetime ‘rock star’ equities fund manager into sharp decline.

Besieged billionaire and James Packer mate Hamish Douglass is making a massive $4.5m renovation of his mansion including drilling more than 20m deep into sandstone bedrock

Besieged billionaire and James Packer mate Hamish Douglass is making a massive $4.5m renovation of his mansion including drilling more than 20m deep into sandstone bedrock

Work on the heritage site continued this week as Hamish Douglass (middle) announced his separation from his wife of 30 years, Alex (left)

Work on the heritage site continued this week as Hamish Douglass (middle) announced his separation from his wife of 30 years, Alex (left)

The huge pit bored beneath the family home on the site of a former convent was made by three enormous rock drills hammering away simultaneously on weekends

The huge pit bored beneath the family home on the site of a former convent was made by three enormous rock drills hammering away simultaneously on weekends

Hamish Douglas is a childhood friend of casino mogul James Packer and the two billionaires were pictured on Packer's $2900m superyacht in St Tropez (above) in July

Hamish Douglas is a childhood friend of casino mogul James Packer and the two billionaires were pictured on Packer’s $2900m superyacht in St Tropez (above) in July

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