Taj on Swan superblock headed for subdivision

Real estate agents have not been able to sell the whole 6582 sqm block for the asking price of $20 million, despite continuing interest from a local resident and Chinese buyers.

Selling agent Vivien Yap from LJ Hooker said the six new blocks would be marketed for $3.9 million each, and up to $4.2 million for two new blocks at the front on Bay View Terrace overlooking the Peppermint Grove tennis courts. She said the owner’s representatives had confirmed the WAPC request by email to her last week.

The application to the WAPC, which was received last Wednesday, is for blocks ranging from 1000 sqm at the front, to 1151 sqm at the rear on Keane Street.

The partly-built $70 million mansion for Indian billionaires Radhika and Pankaj Oswal was abandoned for six years while the owners fought the Australian Tax Office.

The Taj on Swan was finally demolished last October, to the relief of local residents who considered it an eyesore.

One Bay View Terrace resident told Community News that locals hoped individual houses with character would return to the site, similar to how it was previously.

Peppermint Grove shire president Rachel Thomas said she was pleased to hear the news.

“I think the council would prefer to see the block subdivided, rather than have one big house built, as it was previously,” she said.

“Obviously the decision would be up to the WAPC, but I would think if it was approved the council would go ahead with the subdivision.”

Ms Yap was confident the subdivided blocks would be sold through a first in WA – video calls to overseas buyers, who are already purchasing expensive Perth properties sight unseen.

Two $5 million western suburbs houses have just been sold to Chinese buyers, who only had a video walk-through tour by phone on WhatsApp.

Ms Yap said one of the $5 million properties was a gift from a father to his daughter, who rushed it through so it could be settled by Chinese New Year next Saturday on January 28.

After a prolonged downturn, Ms Yap said overseas buyers could see the value in prime properties in Perth’s most expensive suburbs.