DOMVS LUXURY : LOS ANGELES
“The Park Bel Air’ an ambitious and prestigious residential project in the foothills of Los Angeles is redesigning the definition of bespoke ultra luxury.
(WORDS) FINNIAN MULLALLY MUSCHINSKI (IMAGES) DOMVS LONDON
To learn more about the meteoric rise in demand for luxury property in Los Angeles and details surrounding ‘The Park Bel Air’ project, The Freeman Journal talked with Jon O’Brien the London based Founder and CEO of DOMVS London.
Domvs London, developers of ultra-prime residential property, have teamed up in a joint venture with Junius Real Estate Partners, the high end real estate investment unit of J.P. Morgan Private Bank, to acquire the prime 11 acre site located in lower Bel Air, formally know as ‘‘The Park Bel Air’’. The site is located within the prestigious and highly sought after Los Angeles ‘Platinum Triangle’ encompassing the districts of Bel Air, Beverly Hills and Holmby Hills. ‘The Park Bel Air’ will boast three trophy mansions with footprints ranging from 56,000 to 61,000 square feet, each with an estimated cost upwards of $US115 million, depending upon upgrades and custom furniture.‘‘It’s all about understanding our clients lifestyle, the biggest thing for our clients is time. They all have the money to find these amazing locations but having the time or interest involved, is something I don’t believe they are willing to take part in.’’
“There are probably only about 3,000 people in the world who can afford this,” says Barry Watts, the Los Angeles-based president of Domvs London, the Park Bel Air’s developer, the buyer ‘‘needs to be a billionaire.”
Each mansion and estate will be a triumph of bespoke designed luxury, tailored specifically to the desire of the buyers. “It took three years to find this actual plot. It ticked all the boxes for us. Located opposite the Hotel Bel Air, which is through the famous East Gate of Bel Air, five minutes from Rodeo Drive and very close to all the culture as well as Malibu Beach. It was once once eight blocks, people like Barry Manilow used to live there, you know full of the Hollywood glitterati.’’ The Park Bel Air is unique in the sense that while ‘’Other developers saw the sight to build twelve or something houses on the site, DOMVS looked at it entirely differently. I just felt why not build the trophy Mansions, there is a definite market for it. There is very little of substantial quality like it. We are bringing a very British, quintessential modesty and discretion and yet opulence at the same time”.
Each of the properties will be sold off the plan in an attempt to craft the property into the epitome of the owner’s taste and will ultimately result in the creation of ultra opulent and unique trophy homes under the skilled guidance of DOMVS. Each property will boast panoramic views of LA City, the canyon and out across the Pacific Ocean. LA has emerged as the latest luxury property destination, fueled predominantly by immensely wealthy international buyers who had traditionally shopped for second homes in New York, London or Monaco, but who have now turned their sights upon LA. Resulting in a boom in the creation of ultra-luxury residential projects. ‘’While there’s no way to know whether the buyer is going to come from the middle east with 20 children or an industrialist from America or India, what we try to do is sell it off the plan. Thus allowing us to create bespoke design and realize how our clients choose to live. What we are seeing is a lot of interest from the Asian market especially China.’’
‘’These homes are like Downton Abbeys in terms of staff, yet they need to be seen and not heard within common spaces. So all of these things are taken into account. Security is super important to all of these people but it shouldn’t be intrusive.’’
The Park Bel Air though still in its infancy, is already striking ripples in the design and luxury worlds as the project is promising to rethink the definition of high end bespoke luxury and the development of luxury residential property, in a burgeoning market.