Expert In Focus - Leroy Lee
The Lee Family have been property investors and developers across Singapore, Malaysia and Australia for more than 30 years. They have just completed an exciting new project in Perth and Leroy shares how he got to this point and why he is so excited about Perth's new entertainment precinct.
eroy studied accounting and finance in UWA. He initially contemplated a more traditional path as a banker or an accountant. However, he chose to follow his interest and passion for real estate. With the benefit of hindsight, it proved to be a wise decision.
He started his career in Singapore as an Asset Manager, managing a portfolio of commercial properties for a Real Estate Investment Trust. During that time, he explored various opportunities to work on family property development projects within Asia. However, 5 years ago, the stars aligned when the family decided to develop a property in Burswood, Perth. Heeding the call to serve his family, Leroy, together with his wife, embarked on an extraordinary journey.
Today, an iconic 22-storey building that sits on at the top of a hill, aptly named The Crest Burswood, proudly stands out in the Perth skyline.
In the past 5 years, the Burswood precinct has been one of the largest investment destinations by both the Crown Group, one of the largest entertainment groups in Australia, as well as the Western Australian state government. And now, a mind-boggling $3 Billion dollars has been invested to develop the Burswood Peninsular Parklands, the Crown entertainment precinct (world-class gaming, theatre and restaurants), the Crown Towers (most expensive hotel ever built in Australia at a cost of $650 million), Matagarup Bridge and Optus Stadium (the 3rd largest stadium ever built in Australia).
rom the beginning, the Lee family worked closely with the reputable Norup + Wilson team on an architectural quest to make The Crest stand out from every other building in Perth. The next ambition was to create an offering in the market that was above and beyond what most buyers might expect.
“We've sought to create an outlier amongst investor grade property developments. Create something truly phenomenal. Developers, real estate professionals, owner occupiers and investors who see the finished product tell us that what’s been delivered is beyond just about anything else in the market. Apartment purchases made by members of these groups are a feather in the cap for us and vindicate all our efforts for this project.”
“Designed by international architectural firm, Woods Bagot, and inspired by the world-renowned Flatiron building in New York, this building is truly iconic. A design never before seen in Perth and possibly throughout Australia. Its unique shape and curved balconies beg second and third looks from all directions.”
“Another belief while working on this project was that it didn’t matter whether the buyer was an owner occupier or an investor, someone was going to call the unit home. Thus we pulled all the stops to make the development the best we could, a place where anyone staying in it would be proud to call “The Crest” home.”
“Given how technology changes our lives everyday, one of our focal points was to future proof the building, which we have done with a fibre optic backbone running all services, as well as an advanced security and access control system, which is paired together with an all in one smart home panel that controls climate control and has the ability to be upgraded as new technology becomes available.”
“Perth is at the bottom of the market. This presents significant opportunities by not only buying in Perth but buying in a right location buoyed by massive investment spend both from the private sector and the State government. On top of that, pair that with buying into one of the new newest buildings with high end amenities and finishes, the results are potentially monumental”
Growing up in property industry his entire life, Leroy understands when a golden opportunity beckons. For those out there looking to buy an apartment, he has some words of advice.
“The most important thing is buying from the right developers. Some developers focus on churning out units where the bottom-line profit is all that matters. Instead, buy from developers who put owner occupiers at the centre of all they do. World class design, amenities, space creation and finishings. And that's what we do. We genuinely believe in the product and strive to deliver something that is over and beyond anyone's expectations. And I think that’s very clear.”