Beulah’s Southbank Launch Breaks Sales Records

Developer Beulah has set a new benchmark for off-the-plan sales, clocking $400 million in apartment sales on launch day.

The figures represents one of the strongest single-day apartment sales on record by the $2.7-billion Sth Bnk project.

It also included the sale of Melbourne’s most expensive apartment, Sth Bnk’s sub-penthouse at $35 million.

Beulah ran an expression of interest campaign that attracted more than 700 registrations, with buyers expected to put down a $5000 deposit to reserve a spot.

The sub-penthouse spans 1000sq m over an entire floor and will be customised by the buyer whose identity is confidential. 

Beulah managing director Jiaheng Chan said demand had far exceeded expectations.

“We had all types of buyer demographics come through the sales suite on the weekend, from first home buyers through to families,” Chan said.

“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.”

Stage one was successfully sold out and Beulah had to bring forward the second stage to cater to buyer demand.  

Three-bedroom apartments sold from $1.56 million, with two-bedroom and one-bedroom apartments starting at $719,000 and $532,000 respectively.

Several buyers bought multiple apartments within the Sky Rise collection, planning to amalgamate them to create larger apartments.

▲ The $2.7-billion UNStudio and Cox-designed project in Melbourne's Southbank. Source: Beulah

The project will cost an estimated $2 billion and is on the old BMW site in Southbank with a planned 27,000sq m of office space, 21,000sq m of retail, a 202-key Four Seasons hotel and 789 apartments.

The UNStudio and Cox-designed project has two twisting towers that offer four different groups of apartments from one-bedroom to five-bedroom units.

The Garden Rise residences are set above the podium and feature apartments with timber joinery and natural textures.

The High Rise residences is the next group of apartments above the Garden Rise residencies and have larger floorplans and city views.

Above those are is the Sky Rise collection with views of the city, bay and the gardens. These apartments are extra large  with walk-in wardrobes, butlers pantries and access to a residents’ club.

Finally, the hotel private residences offer apartments with high-level residential services.

Residents will also have access to such amenities as the Sth Bnk Auto Club—a car-sharing model with luxury vehicles such as Teslas and BMWs.

A residents’ club, pocket parks and the Sth Bnk concierge service are among other amenities.

The project will also be the home of Australia’s first innovative cultural centre for young people, overseen by Centre Pompidou.

Beulah’s other projects include the Paragon project in Melbourne’s CBD, Habitus in South Melbourne, The Wilds in Northcote and The Grounds of Kew.