<p>Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.</p>

<p>The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.</p>

<p>The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.</p>

<p>The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.</p>

<p><img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" /></p>

<p>BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.</p>

<p>At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.</p>

<p>The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.</p>

<p><img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" /></p>

<p>The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
<p data-end="436" data-is-last-node="" data-is-only-node="" data-start="244">Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.</p>
</section>

<p>[smartcode_project_cta:default project_id=150260]</p>


Joel Robinson

Big Projects secures approval for Glenelg Residences in Mermaid Beach

<p>Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.</p>

<p>The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.</p>

<p>They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.</p>

<p>Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.</p>

<p>The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.</p>

<p><img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" /></p>

<p>“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible<br />
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa<br />
Group.</p>

<p>“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we<br />
created the Flourish collection.</p>

<p>“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”</p>

<p>A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.</p>

<p><img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" /></p>

<p>The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.</p>

<p>“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.</p>

<p>“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not<br />
changed for Vivere.”</p>

<p>With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.</p>

<p>Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.</p>


Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

<p>S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.</p>

<p>The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m.<br />
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.</p>

<p>The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.</p>

<p>“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.</p>

<p>“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”</p>

<p>The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.</p>

<p>The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.</p>

<p>“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.</p>

<p>“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”</p>

<p>The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.</p>

<p>The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.</p>

<p>Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.</p>

<p>“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.</p>

<p>“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.</p>

<p>“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”</p>

<p>S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.</p>

<p>“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.</p>


S&S buys $20m Rainbow Bay site for fifth beachside apartment project

<p data-end="268" data-start="86">Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.</p>

<p data-end="545" data-start="270">As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.</p>

<p data-end="1014" data-start="547">Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of <em data-end="855" data-start="844">wabi-sabi</em> (beauty in imperfection) and the Scandinavian principle of <em data-end="922" data-start="915">hygge</em> (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.</p>

<p data-end="1200" data-start="1016">These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.</p>

<p data-end="817" data-start="541">[smartcode_project:default project_id=150787 project_image_fid=366229]</p>

<p>Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.</p>

<p>“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.</p>

<p>[smartcode_project:default project_id=150787 project_image_fid=366243]</p>

<p>Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.</p>

<p>Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.</p>

<p>“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”</p>

<p>[smartcode_project:default project_id=150787 project_image_fid=366230]</p>

<p>Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.</p>

<p>Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.</p>

<p>In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.</p>

<p>[smartcode_project_cta:default project_id=150787]</p>


Japandi-inspired Koya Residences launch in Toowong

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<p>A completed Castle Hill apartment development is returning to market with an uncommon level of financial backing, positioning it as one of the more secure options for buyers in Sydney’s north-west.</p>

<p>Skyview in Castle Hill, originally developed by Top Place and now overseen by capital partner <a href="https://www.apartments.com.au/developers/equitifund-group">Equitifund</a>, is being relaunched following a full remediation process. Central to its repositioning is a substantial financial reserve designed to provide ongoing protection and reduce uncertainty for incoming purchasers.</p>

<p>At the core of this offering is an $11 million bond secured during the project’s remediation phase, negotiated by former NSW Building Commissioner David Chandler. With less than $4 million required to complete the works, approximately $7.2 million remains in reserve, with around 15 years left on the term.</p>

<p>[smartcode_project:default project_id=147685 project_image_fid=359134]</p>

<p>Rather than a typical insurance-backed structure, the remaining funds are held as cash, creating a readily accessible financial buffer should any future building issues arise. The structure is intended to provide buyers with an added layer of certainty, differentiating the development from more conventional apartment offerings.</p>

<p>Equitifund Executive Chairman Greg Huxley said the structure provides a level of security not typically seen in apartment developments.</p>

<p>“The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers,” Huxley said.</p>

<p>“Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind.”</p>

<p data-end="884" data-start="551">[smartcode_project:default project_id=147685 project_image_fid=359135]</p>

<p>The remediation process has now been completed in full, with no active rectification orders or outstanding directives linked to the project on NSW Government registers. This outcome reflects the broader tightening of building oversight across the state, while also highlighting the project’s transition into a completed, compliant asset.</p>

<p>In a market where many buyers remain cautious about apartment quality, initiatives like this are designed to restore confidence, giving purchasers greater certainty and a stronger sense of security in their investment.</p>

<p>Equitifund has since acquired the remaining apartments and is managing their reintroduction to the market. With the works finalised and a significant financial reserve in place, the project now presents with a markedly different risk profile compared to its initial release.</p>

<p>[smartcode_project:default project_id=147685 project_image_fid=359137]</p>

<p>Beyond the added security, the development is positioned in one of Castle Hill’s more established pockets. The Gay Street address places it within close proximity to Castle Towers, one of the country’s largest retail centres, as well as Castle Hill Metro Station, which now connects directly to the broader Sydney Metro network.</p>

<p>Equitifund National Sales Director Ben Hamblett said buyer demand in the area continues to be driven by access to transport and amenity.</p>

<p>“Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre,” Hamblett said.</p>

<p>“There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living.”</p>

<p data-end="1889" data-start="1564">[smartcode_project:default project_id=147685 project_image_fid=359145]</p>

<p>The apartments also enter the market at a relatively accessible price point for the area, with two-bedroom configurations starting from $995,000 and rental demand for similar stock reaching around $900 per week. This combination of pricing, connectivity, and completed status is expected to appeal to both owner-occupiers and investors seeking lower-risk entry into the Hills District apartment market.</p>

<p>For eligible buyers, a limited 3.50 per cent p.a. two-year fixed interest rate is currently available through Equitifund’s lending partners, providing an additional layer of affordability.</p>

<p><em>EquitiCredit Pty Ltd ACN 676 363 769 holds ACL 559289 and provides credit assistance. Finance is arranged through EquitiCredit and funded by its lending partners. Interest rates are subject to change and eligibility criteria apply. Terms, conditions, fees and charges may apply. This is not financial advice and should not be relied upon as such. Prospective buyers should seek independent financial advice.</em></p>

<p data-end="2131" data-start="1891">[smartcode_project_cta:default project_id=147685]</p>
</section>


Castle Hill apartments offering unmatched buyer protection through dedicated fund

Peppermint Grove

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<p>The businessman John Gillett has decided to sell three redundant blocks of the Taj on Swan site <a href="https://www.afr.com/property/residential/taj-on-swan-owners-set-to-lose-more-than-5m-as-peppermint-grove-site-sells-20180807-h13mps">he bought last year for $17 million</a> in Peppermint Grove.</p>
<p>It was bought from former fertiliser entrepreneur Pankaj Oswal and his wife Radhika.</p>
<p>Gillett and his wife Jocelyn have applied to the WA Planning Commission to split their 6580 square metre superblock.</p>
<p>They have sought three blocks - 765 square metres, 875 square metres and 1104 square metres.</p>
<p>The abandoned home building block of flamboyant billionaire tycoons, Pankaj and Radhika Oswal was sold earlier this year.</p>
<p>Marketed as "the most famous block in Australia" the <a id="LPlnk998012" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202042586" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Bay View Road site</a> was sold through Ray White agent Vivien Yap in conjuction with Sotheby's agent Graham Bowie. </p>
<p>The now demolished 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.</p>
<p>The Oswal family had controlled WA's $700 million Burrup Fertilisers gas-processing plant.</p>
<p>The Oswals paid $22.7 million in 2007 when it was bought from developer Warren Anderson then starting construction a year later on a "two-storey, Indian-infused luxury residence".</p>
<p>"The Gillett family is optimistic that the rarity of blocks in this superb location, plus a gradually improving property market, means that the land will be attractive to buyers," a spokesman for Gillett told Nine Entertainment.</p>
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j.ballantyne1990-6AQqhLzZaK

WA Planning Commission asked to further subdivide Taj on Swan, Peppermint Grove residential housing site

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<p>A Tudor style residence in Peppermint Grove, Western Australia has hit the market with $5.95 million hopes. </p>
<p>The home at<a href="https://www.realestate.com.au/property-house-wa-peppermint+grove-132552150" target="_blank"> 33 McNeil Street</a>, restored just 5 years ago, is now a showpiece example of <span>heritage listed architecture.</span></p>
<p><span>Justin Davies of Space Real Estate Cottesloe has the listing. </span></p>
<p><span>Set within a <span>sought after street lined with Peppermint trees, the home features gabled roof <span>characterising its Tudor style and front façade draped in vine leaves.</span></span></span></p>
<p><span><span><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/pepermint%20grove%203.jpg" alt=""></span></span></span></p>
<p><span><span><span>It comprises traditional den study, gourmet kitchen, formal and informal living, master suite and two self-contained guest lodgings.</span></span></span></p>
<p><span><span><span>The recently added loft space is large enough to incorporate a lounge setting and bedroom suite. </span></span></span></p>
<p><span><span><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/peppermint%20grove%202.jpg" alt=""></span></span></span></p>
<p><span><span><span>Other highlights include manicured garden, solar heated pool, decked patio alfresco area, and double garage plus additional parking.</span></span></span></p>
<p><span><span><span>The home is within walking distance to elite private schools and shopping centre. </span></span></span></p>
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Peppermint Grove restored historic home hits the market 

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<p>One of Peppermint Grove’s original houses is set to be auctioned on December 8 for the first time in 13 years after a makeover.</p>
<p>It has been offered by Jody Fewster from Ray White Cottesloe/Mosman Park. </p>
<p>Copley on View, the circa 1930's home situated at <a href="https://www.realestate.com.au/property-house-wa-peppermint+grove-129140650" target="_blank">58 View Street </a><span>was purchased by its current owners in 2005.</span></p>
<p><span>Shortly after it underwent a full renovation and rear-extension addition by architect, Lendis Golic.</span></p>
<p><span><span>The home features original structure including <span>wide, polished jarrah floorboards, formal dining and living rooms joined by a double-storey height, light-filled void' zone, ceiling to floor window and the walnut, timber-clad stairwell.</span></span></span></p>
<p><span><span><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/3/peppermint%20grove%202.jpg" alt=""></span></span></span></p>
<p><span><span><span>It comes with four bedrooms, five bathrooms, ground-floor office, wine cellar, gym or hobby room, storage rooms and marble-clad laundry plus secure garage. </span></span></span></p>
<p>It has been listed for the past 100 days by Perth charity fundraiser Hilda Shroy.</p>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/3/peppermint%20grove%203.jpg" alt=""></div>
<p>“My home has been a giving home with many fundraisers,” Mrs Shroy said.</p>
<p>It is within short walking distance to Gill Street <span>Café, St Hilda's Senior School, Freshwater Bay Yacht Club and <span>Cottesloe Central and Napoleon Street Café precinct.</span></span> </p>
<p>The property goes to auction on December 8 on-site.</p>
<p>The suburb's median house price sits at<a href="/developments/peppermint-grove-wa-6011"> $3.875 million</a>, according to CoreLogic. </p>
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Peppermint Grove trophy home Copley on View for December auction

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<p>The new owner of Peppermint Grove’s Taj-on-Swan superblock has emerged as businessman John Gillett.</p>
<p>He plans to build a family home to share with his family, The Weekend West reported after the $17 million acquisition.</p>
<p>Mr Gillett is a former Moran Health Care executive who sold WA aged care provider Craigcare last year in a deal worth $50 million to $100 million. </p>
<p>The Nedlands-based businessman bought the business in 2003 for a reported $25 million from the Pix family.</p>
<p>The business was sold to Bain Capital coming with about 900 beds across seven aged care and retirement homes in WA and Victoria.</p>
<p>The Bayview Avenue block, which had a $30 million price tag <a href="/news/taj-on-the-swan-set-for-auction-in-ailing-perth-market">two years ago</a>, failed to sell at auction last month.</p>
<p>It was passed in <a href="/news/taj-on-swan-auction-stops-with-15-6-million-offer">at $15.6 million.</a></p>
<p>Speaking publicly about his purchase for the first time, Mr Gillett told The West as a private person he had “naively” hoped to avoid attention.</p>
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jchancellor-FAypfDUnLy

John Gillett emerges Peppermint Grove’s Taj-on-Swan super block

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<p>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.</p>
<p>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. </p>
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<div>Marketed as "the most famous block in Australia" the <a id="LPlnk998012" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202042586" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Bay View Road site</a> had $30 million hopes two years ago.</div>
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<div>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.</div>
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<div>The Oswal family had controlled WA's $700 million Burrup Fertilisers gas-processing plant</div>
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<div>The Oswals paid $22.7 million in 2007 then starting construction a year later on a "two-storey, Indian-infused luxury residence." </div>
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Taj on Swan sold at Peppermint Grove

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<div>The abandoned home building block of flamboyant billionaire tycoons, Pankaj and Radhika Oswal was passed in at Saturday auction in Perth.</div>
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<div>The top bid was $15.6 million with three of the five registered parties competing for the prize parcel at Peppermint Grove.</div>
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<div>Two years ago there were $30 million hopes for the prestigious Perth offering, after the partially built so-called Taj on Swan mansion was demolished under council orders.</div>
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<div>The 6582 sqm site, which could fit six homes, had reduced $19.5 million hopes last year.</div>
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<div>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.</div>
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<div>The Oswal family had controlled WA's $700 million Burrup Fertilisers gas-processing plant</div>
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<div>Auctioneer Mack Hall received an opening bid of $10 million, with offers quickly jumping up in $1 million increments before proceedings paused for negotiation at around the $14 million mark. </div>
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Taj on Swan auction stops with $15.6 million offer

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<p>Perth's weak auction market continued with its weekend clearance rate stuck in the 30s.</p>
<p>Its ailing auction market has rarely captured much national attention, but next weekend sees the notorious and prestigious Peppermint Grove super block of Pankaj and Radhika Oswal go to auction.</p>
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<p>The <a id="LPlnk998012" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202042586" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Bay View Road site</a> has been listed through Ray White agent Vivien Yap <a id="LPlnk350139" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202144098" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">inconjuction with Sotheby's agent Graham Bowie</a>.</p>
<p>The partially built so-called Taj on Swan mansion was demolished under council orders in 2016.</p>
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<p>The mansion with Swan River views had sat unfinished after the Oswals quit Australia in 2010.</p>
<p>It is now being marketed as "the most famous block in Australia."</p>
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<p>Initially there was a $30 million asking price for the super block, which over the years has been subject of international media attention.</p>
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<p>The 6582 sqm site, which could fit six homes, then came with reduced $19.5 million hopes last year.</p>
<p>The Oswals bought the consolidated block for $22.7 million in 2007 and started construction a year later.</p>
<p>The Oswal family, who controlled the $700 million Burrup Fertilisers gas-processing plant on the Burrup Peninsula, planned to build a "two- storey, Indian-infused luxury residence" on the eight lots they bought from property tycoon Warren Anderson in the heart of Peppermint Grove.</p>
<p>Anderson's super block sat vacant for many years. He created it in 1986 when his company bought 11 houses and demolished most of them. It was subdivided into 22 blocks of which the Oswal bought eight for $22.7 million</p>
<p>Sydney had the dearest weekend auction result when <a id="LPlnk837609" class="x_OWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-burraneer-128589450" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">18 Rutherford Av, Burraneer</a> fetched $4.75 million pre-auction through estate agent David Highland. </p>
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<p>The deep waterfront 1150 sqm parcel of land came with house set over three substantial levels with expansive views over Gunnamatta Bay.</p>
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<p>There were 400 auctions held in Sydney returning a preliminary auction clearance rate of 61.3 per cent. </p>
<p>Sydney's prior week saw 408 auctions held with a final clearance rate of just 46.9 per cent, the lowest clearance rate the city has seen since December 2012. </p>
<p>This time last year, 70.3 per cent of the 625 Sydney auctions held were successful.</p>
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<p>Melbourne was the busiest capital city for auctions, with 612 homes going under the hammer, returning a preliminary clearance rate of 62.3 per cent, compared to last week when 56.2 per cent of the 559 auctions were successful. </p>
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<p>Over the same week last year, there were 833 auctions held in Melbourne, returning a clearance rate of 73.8 per cent.</p>
<p>Melbourne's dearest reported sale was $2.74 million in Albert Park for a three bedroom, two level modernised terrace at 18 Page Street. There had been <a id="LPlnk98320" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-vic-albert+park-128683478" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">$2.5 million to $2.7 million price guidance</a> through Greg Hocking Holdsworth. </p>
<p>The highest preliminary clearance rate was recorded in Adelaide where 75 percent of the 48 reported auctions were successful.</p>
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<p>The nation's cheapest weekend sale was in Perth where a three bedroom brick and tile home sold for <a id="LPlnk909481" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-wa-armadale-128592790" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">$165,000 at Armadale</a>, located on the south-eastern edge of Perth's metropolitan area.</p>
<p>The 1970s house has a renovated kitchen, new carpet in the bedrooms and a fresh coat of paint, Professionals Armadale selling agent Shane Denniston noted.</p>
<p>It had last sold at $270,000 in 2007 and at $185,000 in 2005.</p>
<p><img src="https://www.urban.com.au/images/2018/7/23/CL%20Taj%204.JPG" alt=""></p>
<p>Perth's 38.5 percent success rate was the weakest auction market sitting behind Brisbane's 44 percent.</p>
<p>Perth's best auction clearance rates saw a 60 percent plus peak in 2013 and before that in the 50s in 2010.</p>
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<p>Perth dwelling values were 0.7 percent over the three months to June 2018 and 2.1 percent lower over the past year. </p>
<p>Dwelling values in Perth are now 11.4% lower than they were at their peak in June 2014, CoreLogic advise.</p>
<p>The national weekend auction volumes increased slightly over the week with 1,246 homes taken to auction across the combined capital cities, up from the 1,178 in the prior week, according to CoreLogic.</p>
<p>The preliminary clearance rate was recorded at 60.6 per cent this week, after finalised clearance rates have held around 52 per cent for the last three weeks.</p>
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Taj on the Swan set for auction in ailing Perth market

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<p>Behind the white picket fence, a single level, Neil Robertson architect designed home has been listed in Peppermint Grove in Western Australia.</p>
<p>Built in the classic character style, the charming cottage exterior has been maintained over the last 20 years since its construction.</p>
<p>The formal front garden at <a href="https://www.realestate.com.au/property-house-wa-peppermint+grove-126493478" target="_blank">2 Harvey Street</a> was designed in the style of leading Australian landscape gardener Paul Bangay.</p>
<p>There are established fruit trees of mango, citrus, pomegranate and macadamia.</p>
<p>Set on 750 square metres, the home has four bedrooms, three bathrooms. </p>
<p>The charming cottage exterior belies the size and scale of the interior, the Peter Burns at Mack Hall listing agency said.</p>
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Neil Robertson-designed home in Paul Bangay gardens at Peppermint Grove

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<p>With the Oswal's $70 million partially built Peppermint Grove mansion, dubbed 'Taj on Swan' by locals, demolished, Perth agents Vivien Yap of LJ Hooker and William Porteous have been appointed by the Oswals to sell the 6,600sqm lot.</p>
<p>It is said to be worth around $30 million. The property is for sale by expression of interest.</p>
<p>The incompleted house was the subject of a long-running battle between the owners and the council after it was abandoned when the Oswals left Australia in December 2010. </p>
<p>The original plans for the palatial home included seven domes, a temple, a gym and swimming pool.</p>
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