Perth Set For One Of The Biggest Residential Auctions Ever
The “most famous block in Australia”, the Taj on Swan site, will now be auctioned off after it failed to attract enough individual buyers.
The 6582sqm superblock was once the site of the partially built $70 million ‘Taj on Swan’ mansion, owned by Radhika and Pankaj Oswal.
Work on the controversial building was abandoned before it was finally levelled in October last year after a six-year battle between the couple and the Australian Taxation Office.
The block was on the market for $20 million, but did not sell, so it was divvied up into six lots. Prices ranged from $3.9 million to $4.2 million.
However, these also didn’t sell.
“We’ve had some interest locally, as well as over east and Asia, but not enough genuine interest,” Real estate agent Vivien Yap told the Western Suburbs Weekly.
The superblock will go under the hammer on Saturday, May 27 and expected to be one of the biggest residential auctions ever seen in Perth.