STH BNK by Beulah breaks apartment sale record with $38m penthouse

Violet Li

A sub-penthouse in STH BNK by Beulah has reset the record for Melbourne’s most expensive apartment with a sale of $38 million.

The unknown buyer, a transcontinental business owner, has been offered a customisable floor plan to cater to their lifestyle. Located above level 75 in one of the future highest apartments in Melbourne, the property features a 360-degree view of the city, access to resort-style concierge services, including housekeeping, shopping, childminding, etc., and world-class amenities.

Beulah managing executive director Adelene Teh said the latest sale was reflective of the growing demand for luxury apartments providing the convenience of immediate proximity to Melbourne’s international-standard gardens and cultural landmarks, while simultaneously offering the luxury of hotel living within their home.

“Despite a challenging market due to rising interest rates, the prestige market remains active, as we’ve seen with a number of record-breaking sales recently, as these buyers often aren’t reliant on funding from the banks,” she said.

The record-breaking purchase, succeeding the $35 million sales of another sub-penthouse in the same high-rise building earlier last year, has become one in a long list by STH BNK by Beulah.

Other notable sales include two apartments worth in excess of $30 million, a sub-penthouse fetching $15 million, and a slew of apartments worth more than $10 million – all sold off the plan.

STH BNK by Beulah is a project building the world’s tallest vertical garden with two adjacent towers curving in a twist and foliage and trees growing on the balconies along their exteriors.

The two towers will be home to an innovative art gallery, global-qaulity retail and wellness precincts, the Four Seasons Hotel, and four distinct residential collections. It is earmarked for completion in 2027. •