ATO Moves to Sell Distinctive Unfinished Perth Mansion

THE distinctive half-built Perth mansion dubbed by locals as the ‘Taj on Swan’ is a step closer to being sold after the Australian Taxation Office moved proceedings in the Federal Court.

The half built home (pictured above at various stages of construction) on the corner of Bay View Terrace and Keane Street in Peppermint Grove is expected to fetch between $15 million and $18 million, according to sources.

It’s been reported the domed structure was costing $70 million to construct, and upon completion would be one of the most expensive properties in Australia.

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Top End Residential Continues to Grind

AUSTRALIA’s prestige property market appears to still be in deceleration mode.

In Sydney, the Vaucluse mansion being offloaded by the Cattell family has been reduced from $21 million to $18 million. Nearby, property developer Paul Smith sold his Bellevue Hill home for a price believed to be “a heavy discount” to the $14 million he first asked last year.

SQM Research managing director Louis Christoper said the Sydney and Melbourne prestige market are recording modest price falls.

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