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Beulah sets a new off-the-plan apartment record with $400 million in sales on launch day

Market Insights
1 year ago
2 minutes

Beulah - the developer behind The Wilds Merri Creek - has set a new benchmark for off-the-plan apartment sales at the $2.7 billion STH BNK project launch day. The project secured $400 million in sales, representing one of the strongest single-day apartment sales. 

Additionally, the incredible $35 million sub-penthouse sale now crowns STH BNK as the home of Melbourne’s most expensive apartment. This residence is sprawled across the entire 1,000sqm floorplan and will be customised by the buyer. 

Approximately 300 off-the-plan apartments have been sold throughout STH BNK’s twin towers, with several buyers purchasing multiple apartments with plans to amalgamate them into larger homes. 

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STH BNK is designed by Dutch architecture firm UNStudio and Melbourne-based Cox Architecture. The structure is defined by two twisting, terraced towers incorporating a spectacular vertical garden. 

The development offers four different groups of apartments ranging from one-bedroom to expansive five-bedroom residences. 

The Garden Rise residences, characterised by timber joinery and natural textures, are set above the podium level. Above, The High Rise residences feature larger floorplans and city views. 

Higher still is the Sky Rise collection, backdropped by city, bay and garden vistas. These apartments feature ‘extra-large’ floorplates, walk-in wardrobes, butler’s pantries and access to an exclusive residents’ club. 

Beulah has not spared any expense at STH BNK. The development features a host of amenities that focus on residents’ fitness, health and wellbeing, including a swimming pool, sauna, monsoon shower, treatment rooms and gym. There is also a cinema and karaoke room, broadcasting room, co-working space and a concierge. 

STH BNK also displays a strong focus on family-friendly amenities. “One of the things that’s really important to this project is we want it to be family-friendly, so we have rooms that parents can use and that are friendly to kids,” says Adelene Teh, Co-founder and Executive Director of Beulah. 

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“The launch day was absolutely buzzing; we had buyers lining up, eager to be the first to choose their preferred apartment, with many saying the opportunity to have the world at their feet was too good to pass up,” said Beulah Managing Director, Jiaheng Chan. 

“We successfully sold out Stage 1 and had to bring forward Stage 2 to cater to buyer demand.” 

The buyer demographic has been mixed, with plenty of first home buyers, families and investors attending the launch. 

Two-bedroom apartments accounted for most of the units sold, while three-bedroom apartments priced from $1.56 million accounted for the largest amount of investment properties sold. Three, four and five-bedroom apartments contributed to 20% of the total sales. 

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