JCL Prime seek next home owner occupier apartment buyers at Arbour Park, Surrey Hills
JCL Prime, a new Melbourne property development company aims to specifically target the owner occupier market, and shun the investor market.
Its Surrey Hills project, Arbour Park, is about to launch with 43 apartments.
With views across Surrey Gardens, the pricing at the 352-358 Canterbury Road apartment complex through CO-LAB Residential will be $695,000 to $2.5 million.
Henny are the builders with landscape gardening by Openwork at the site located between Union and Norfolk Roads.
Eric Loi and Lawrence Choong have a current pipeline with an end value of $150 million across three Melbourne projects, adding Toorak and Clifton Hill to their Surrey Hills site.
JCL Prime was founded by the local Melburnians in late 2020, having identified the "changing buyer market." They also expect interest from locals seeking to enter the property market, as well as downsizers.
They combined their 35 years experience and committed to delivering prime projects that provide both a high quality and affordable solution for locals buying locally, in blue chip locations.
Eric, a structural engineer, was previously been involved in unitised building modular constructions with Nonda Katsalidis. He is also a director of construction company Henny.
Lawrence is an investment manager and has overseen several development projects in recent years.
“Currently we are seeing a saturation of investment product in Melbourne, which is not moving," says Loi.
"There is no shortage of investment properties, while there is a huge gap for well-designed apartments specifically for the owner occupier and downsizer."
Surrey Hills, Toorak and Clifton Hill were secured over the past four months, and they are still actively looking for a few quality development sites.
“We have such confidence in the market and the product we are creating that construction will commence on Arbour Park about the same time we start the sales campaign,” Mr Loi said.
It has engaged renowned architecture firm Elenberg Fraser to create Arbour Park, and "help shape the new face of Melbourne’s neighbourhoods."
Elenberg Fraser principal Reade Dixon said, “we have been working on a new residential platform for some time now, the New Standard, and Arbour Park comes out of the research of this design platform.”
“More than a house, and more than apartment living, it is a personalised residential offering... project where integrated multi-residential living eclipses the great Australian dream of the quarter acre block.”
“It provides all the intimacy and privacy of a home with the security and community that come with apartment living.”