A PRICE has finally been put on Pankaj and Radhika Oswal’s 6582sq m property in Peppermint Grove.
After an ‘expressions of interest campaign’, LJ Hooker Claremont is seeking offers over $20 million.
The Oswals paid $22.7 million for 2 Bay View Terrace in 2007 and there was speculation that they wanted more than $30 million for the block.
LJ Hooker Claremont principal Vivien Yap said the decision to consider offers over $20 million was representative of the market feedback received so far.
There was scope for the site to host allotments from 383sq m to 1001sq m, subject to council approval, and Mrs Yap said the campaign had elicited an even amount of interest for purchases of both the entire site and individual parcels.
“Seldom do you find a vacant, urban site of this scale in a blue-chip community with river views,” she said.
“Now that the former incomplete residence has been removed, the site presents an extraordinary blank canvas.”