This article is from the Australian Property Journal archive
REACHING more than $600 million in apartment sales over just four months, STH BNK By Beulah has become the fastest selling project in Melbourne in half a decade.
After the $400 million sell-out of Stage 1 of STH BNK By Beulah, the now sold out Stage 2 was fast-tracked to meet the high demand, ahead of the launch of the remaining two stages.
“Despite a challenging market, the strong results are a testament to not only the product but the world-class team involved and the overarching vision,” said Jiaheng Chan, managing director at Beulah.
Sales at the project over the last four months also included the recorded-breaking sale of a $35 million sub-penthouse and a $15 million sub-penthouse.
“Most of our purchasers live in Melbourne and Sydney with a large proportion of purchasers stemming from the immediate area who already love the culture, shopping, sport and entertainment of inner-city living but have been searching for a truly integrated precinct to live in,” added Chan.
“We’ve also seen a surge of buyers from regional Victoria who are attracted to the same things, and see Melbourne city as an attractive place to have a home.”
The final two stages include the Hotel Private Residence collection, which will offer potential buyers exclusive hotel services, dedicated property management and exclusive resident amenities.
The Hotel Private Residence will also include a selection of customised residences that will be designed off the back of demand.
“Our partnerships with Four Seasons Hotels and Resorts and with Centre Pompidou have also added immense value for potential purchasers, presenting a truly unique lifestyle offering, that is only further enhanced by our commitment to holistic wellness throughout the precinct,” said Chan.
While almost 70% of all apartments sold so far at the development have been two- and three-bedroom apartments, Beulah is set to redesign several floors to meet high demand for larger apartments.
This comes after many buyers have merged multiple apartments, resulting in fewer total apartments at the development, with more two-, three- and four-bedroom configurations.
“Buyers are excited by the fact they can live in a mini-metropolis, a vertical village that has everything they could possibly need and more. They will be able to enjoy the cosmopolitan lifestyle with world-class amenities and services on the doorstep and can simply lock up and leave when travel calls,” said Chan.
Amenities at STH BNK will include residents’ clubs with pools, lounges and wellness areas, with all residents having access to concierge services such as housekeeping, shopping and child minding to pet services, an on-call doctor, beauty treatments and massages.
While Beulah recently announced STH BNK Auto Club, a first-of-its-kind fleet of luxury vehicles including BMWs, Teslas, Porches and Range Rovers for residents to use at their convenience.
