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.
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.
Marketed as "the most famous block in Australia" the 2 Bay View Road site had $30 million hopes two years ago.
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.
The Oswal family had controlled WA's $700 million Burrup Fertilisers gas-processing plant
The Oswals paid $22.7 million in 2007 then starting construction a year later on a "two-storey, Indian-infused luxury residence."