LONDON, September 29, 2015 /PRNewswire/ --
Domvs London, a developer of ultra-prime residential property, has formed a joint venture with Junius Real Estate Partners, a real estate investment unit within J.P. Morgan Private Bank, to acquire a prime 11-acre site within lower Bel Air known as The Park Bel Air. The venture seeks to deliver the finest living experience in the world for a select few, through the creation of three grand estates. The estates, located at the heart of Los Angeles' prestigious 'Platinum Triangle' (Bel Air, Beverly Hills, and Holmby Hills), will accommodate personalized turnkey homes permitted for up to 61,000 ft² each, offering privacy, security, and Pacific Ocean, city and canyon views.
Kurt Rappaport, Co-founder and Owner, Westside Estate Agency, remarks, "Estates of this calibre in Los Angeles rarely come to market, let alone a collection of three in old Bel Air presented as thoughtfully as The Park Bel Air. Demand for properties at this end of the market, both domestic and off-shore, continues to outstrip supply. No one should be surprised to see the trend for prime property sales above $50 million in the Platinum Triangle continue.
"The Park Bel Air is a landmark development on one of the most ultra-prime pieces of real estate in Los Angeles. We are thrilled to be working on such an exciting collection of properties that are like no other."
Jon O'Brien, Founder and CEO, Domvs London, comments, "We're providing ultra-high net worth buyers with a bespoke lifestyle choice in which every aspect of their estate can be thoughtfully curated.
"When compared to other ultra prime property markets such as New York, London or Monaco, properties of this quality, specification and demonstrable value are surprisingly rare at the highest end of the Los Angeles residential market."
Domvs London's development team, led by Founder and Creative Director Gavin Brodin, combines class leading architecture and design with a construction team poised to deliver, upon request, fully personalised turnkey homes on an expedited basis. Having secured final permits just prior to the adoption of new City of Los Angeles restrictions on large home developments, The Park Bel Air represents possibly one of the last remaining opportunities to develop homes of this quality and scale in Bel Air.
SOURCE Domvs London