Taj on Swan sold at Peppermint Grove
Staff reporterDecember 7, 2020
Taj on Swan, Perth's notorious building block, has gone under offer following last weekend's auction where the bidding stopped at $15.6 million, with the negotiations apparently getting nearer $17 million.
The abandoned Peppermint Grove home building block of flamboyant billionaire tycoons, Pankaj and Radhika Oswal, listed through Ray White agent Vivien Yap inconjuction with Sotheby's agent Graham Bowie, cost $22.7 million in 2007 when bought from property developer Warren Anderson.
Marketed as "the most famous block in Australia" the 2 Bay View Road site had $30 million hopes two years ago.
The mansion with Swan River views sat unfinished after the Oswals quit Australia in 2010 amid a dispute with bankers about the wind up and sale of their fertiliser business.
The Oswal family had controlled WA's $700 million Burrup Fertilisers gas-processing plant
The Oswals paid $22.7 million in 2007 then starting construction a year later on a "two-storey, Indian-infused luxury residence."