Perth's highest profile property comes to market
October 05, 2016
LJ Hooker Claremont | Dalkeith has been appointed to sell Western Australia’s highest profile residential address.
Following the demolition of prominent business couple Pankaj and Radhika Oswal’s unfinished mansion in Peppermint Grove, the site will offer an unprecedented 6,582sqm in the riverfront enclave.
Leading WA real estate agent and Principal of LJ Hooker Claremont | Dalkeith Vivien Yap is co-ordinating an Expression of Interest campaign for the river-view site, which could be purchased wholly or through individual lots. Subject to Shire approval, the property has the potential to host six lots ranging in size from 838-1001sqm.
Because of the scale of the site, which offers views of the widest reaches of the Swan River, Mrs Yap said she was expecting to field offers for interested buyers seeking individual lot purchases.
“There’s the opportunity to purchase the entire site, which represents Perth’s best positioned residential site and one of the best in Australia,” said Mrs Yap. “The super-block is of grand proportions and under a single owner could become one of the most spectacular homes in Australia.
“But offers will be considered to purchase one, two or more lots. Peppermint Grove’s lot sizes typically range from 1500sqm-1800sqm so the smaller, single river view lots are a rare opportunity as well.’’
Mrs Yap has engaged top WA architect Tom Brooking and builders Palazzo Homes, whom both have extensive experience in Peppermint Grove, to be sounding boards for potential buyers regarding opportunities under various lot sizes.
“We will be working closely with the Shire of Peppermint Grove and our external consultants to achieve the very best solution for this prime landholding,’’ she said.
There are approximately 500 properties in the small, tightly-held enclave of Peppermint Grove. Since the GFC, only 20 properties have on average changed hands annually in the suburb. Land opportunities are far rarer, averaging just over two per year since 2008.
“Many homes are passed through generation after generation. That makes getting in the door extremely difficult as a new buyer, particularly if you are wanting to build new,’’ said Mrs Yap.
Mrs Yap has a strong track record for success in the area, having secured buyers for some of the Western Suburbs most beautiful homes. Under her leadership, LJ Hooker Claremont was named the Real Estate Institute of Western Australia’s Top Team by Value Sold in its inaugural year, securing $106 million in sales.