Prestige Perth's most infamous property is coming back on the market after businessman John Gillett decided to sell three redundant blocks of the "Taj on Swan" site he bought last year for $17 million from former fertiliser entrepreneur Pankaj Oswal and his wife Radhika.

Mr Gillett and his wife Jocelyn have applied to the WA Planning Commission to split their 6580sq m superblock at 2 Bay View Terrace and hive off three blocks – one of 765sq m and one of 875sq m on Bay View Terrace, and another 1104sq m block facing Keane Street in the leafy suburb of Peppermint Grove.