A block of land on Perth's Swan River, which was once home to the mansion dubbed Taj on Swan, is under offer for $17 million.
The Peppermint Grove property was passed in at auction last weekend when bids failed to reach anywhere near the rumoured asking price of $30 million.
But, real estate agent Vivien Yap said after "intense negotiations" between four parties, the land owned by Indian billionaires Pankaj and Radhika Oswal was now under offer.
A price of $17 million has been agreed with a West Australian buyer who wishes to remain anonymous.
The 6,600-square-metre parcel of land has been in the headlines for years because of the Oswals' ambitious plan to build a $70 million mansion on the site.
The home was to include seven domes, a temple, gym, swimming pool and parking for 17 cars.
The partially built mansion was abandoned in 2010 after the couple left the country following the collapse of their ammonia company, Burrup Holdings.
The building was demolished in 2016 amid concerns it had become a dangerous eyesore.
Ms Yap said the Oswals were "very happy" with the final offer and their neighbours were also pleased.
"The neighbours are very pleased to hear that the name Taj on Swan will no longer be in the headlines," she said.
"It is the start of a new chapter for the entire streetscape.
"They feel they finally have some closure."
