‘Taj Mahal’ fails to sell

THE 6582sq m block of land that once housed the derelict mansion dubbed the “Taj Mahal on the Swan” in Perth’s ritziest suburb has failed to sell at auction on Saturday.

Auctioneer Mack Hall said yesterday the owners had been seeking $19 million for the Peppermint Grove property but the highest bid was just $15.6 million. Three people were bidding at different stages over about half an hour and Mr Hall said he had never experienced an auction like it.

Negotiations are continuing with two people interested in the property.