DEMOLITION is not complete on the Taj on Swan in Peppermint Grove, but there are already plans to put the 6582sq m block on Bay View Terrace up for sale.
Owners Pankaj and Radhika Oswal have appointed LJ Hooker Claremont director Vivien Yap and William Porteous Properties International director Willie Porteous as joint listing agents.
Mrs Yap was in Sydney today planning an intensive marketing campaign with LJ Hooker chief executive Grant Harrod.
“As well as local marketing, we will be rolling out an international and national campaign through LJ Hooker’s global network of over 700 offices,” she said.
Mrs Yap is calling for expressions of interest on the property, which could be purchased wholly or as individual lots.
The site contains six approved lots by the Shire of Peppermint Grove – all with river frontage – ranging in size from 838sq m to 1001sq m, and Mrs Yap was expecting to field offers from interested buyers seeking individual lot purchases.
“There’s the opportunity to purchase the entire site, which represents Perth’s best positioned residential site and one of the best in Australia,” she said.
“The super-block is of grand proportions and under a single owner could become one of the most spectacular homes in Australia, but offers will be considered to purchase one, two or more lots.
“Peppermint Grove’s lot sizes typically range from 1500sq m to 1800sq m, so the smaller, single lots with river frontage are a rare opportunity as well.’’
Mrs Yap has engaged WA architect Tom Brooking and builders Palazzo Homes, both with extensive experience in Peppermint Grove, to provide advice to potential buyers regarding opportunities under various lot sizes.
“We will be working closely with the Shire of Peppermint Grove and our external consultants to achieve the best solution for this prime landholding,” she said.
Mr and Mrs Oswal bought the property in 2006 for $22.7 million.
Peppermint Grove Council is negotiating with the couple to pay the demolition costs of $97,500, after a deed was also obtained for $106,000 in outstanding rates.