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Oswals' $70m 'eyesore' awaits demolition

AAP logoAAP 18/08/2016 By Megan Neil

The "Taj Mahal on the Swan River", once destined to be Pankaj and Radhika Oswal's $70 million Perth palace and now a dilapidated eyesore, will be torn down within weeks.

Mrs Oswal wanted the Indian-style mansion in Peppermint Grove to be her "absolute fantasy" home, boasting seven domes, six bedrooms, a temple, observatory with revolving roof and parking for 17 cars.

But it has sat unfinished since the Oswals fled Australia in December 2010 when the ANZ bank called in more than $US500 million in loans and appointed receivers to their Burrup fertilisers business.

As the Oswals and the bank negotiate a settlement of the couple's $1.5-2.5 billion lawsuit over the sale of the Burrup business, the local council is getting ready to bring in the bulldozers at the abandoned "Taj on the Swan".

The Oswals have until September 30 to demolish the incomplete structure, under an undertaking given to the State Administrative Tribunal last year.

The demolition work has yet to start so the council is getting ready to step in after the deadline passes.

Peppermint Grove Shire CEO John Merrick said the demolition was unrelated to any litigation involving the Oswals.

"The only reason it needs to come down is it's a dangerous, dilapidated, uncompleted building in contravention of the building code," Mr Merrick told AAP on Thursday.

The Oswals spent an estimated $40 million on the property and construction work before leaving Perth, where they had a home in Dalkeith.

The Peppermint Grove site regularly attracts partying teens.

"It's very, very dilapidated," Mr Merrick said.

"It's been subjected to constant graffiti attack.

"It's an absolute eyesore."

The council has obtained quotes for the demolition, which estimate it will take between four and 20 weeks, and will appoint a contractor at its meeting on Tuesday night.

Mr Merrick said the demolition would cost "probably six figures" and the council will seek recompense from the Oswals.

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