Liam Hemsworth is cutting his losses and moving on from one of his last big ties to ex-wife Miley Cyrus, despite losing millions in the process.

The Hunger Games star has sold his 7.4 acre Malibu estate that he shared with Cyrus for the 'bargain' price of $4.9 million (US$3.6 million) - almost half of what he bought it for in 2014.

The cut rate price is due to the Woolsey Fire that ravaged the area and the home in 2018, burning it almost to the ground.

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The unidentified buyer bought the two lots the former home stood on, a burned out concrete foundation, "an untouched pool, plus acres of semi-charred rolling hills," according to Variety.

Back in 2014, when Hemsworth bought the property for $9.3 million, the estate included "a long driveway that meandered over a gurgling creek, an updated 1950s ranch-style house, a recording studio, detached writing studio, concrete barn, and a big grassy lawn.

The property is nestled deep in the rolling Malibu hills, within a private gated community where other homeowners include Megan Fox, Emmy-winning producers Marcy Carsey and Richard Appel, and helicopter heiress Cindy Robinson."

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Cyrus loved the place so much she wrote her song Malibu about it and bought the smaller house next door - which somehow survived the fire and which she still owns.

As for Hemsworth, he now lives in Byron Bay with the rest of his family, having recently splashed $4.25 million on a property in the hipster haven.

The Hemsworth family took to Byron in 2014 when Chris and wife Elsa Pataky spent $7m on the home they demolished to make way for their modern mansion - a project estimated to have cost $8.8m.

All up the family have reportedly spent $17m buying property around Byron Bay.

Liam and Gabriella Brooks, who have been dating for seven months, have been based in Byron through much of the pandemic.

This article originally appeared in the New York Post and was reproduced with permission

Originally published as Hemsworth loses millions on last big tie to Cyrus