Beulah’s Sth Bnk Tower Site in Melbourne Comes to Market

More than a year after creditors voted to sell Beulah’s Sth Bnk project site, the prime Melbourne block has been put up for sale. 

Receivers and managers from KordaMentha instructed Cushman & Wakefield to put the two separate titles at 118 City Road and 158 City Road to the market after the collapse of the developer’s project arm last year. 

Beulah International, a Malaysian-backed developer, called in administrators for the company overseeing the $2.7-billion Sth Bnk mixed-use project in February 2025.

The Beulah company, BSSPV Pty Ltd, entered administration as a result of wind-up orders from architecture firms Cox Architecture and UN Studio. 

It reportedly had debts of more than $100 million. Creditors voted in favour of plans to sell the Southbank site in March 2025 in an attempt to recoup its losses.

The site is a former BMW showroom.

The combined 7706sq m dual-title landholding offers 407m of island site frontage. 

Beulah had planned a 789 apartments within what could have been Australia’s tallest tower. 

▲ A rendering of the development Beulah planned for the Southbank site.

The 6191sq m site at 118 City Road is home to a a two-level office/showroom, formerly Southbank BMW, with a four-level carpark at the rear.
 
The 1515sq m site at 158 City Road sits has a five-level office building with 3,834sq m of net lettable area and 62 car spaces.

Daniel Wolman, Leon Ma and Oliver Hay of Cushman & Wakefield and Julian White and Chao Zhang of Stonebridge Property Group have been appointed to sell the site. 
 
Wolman said the “scale and flexibility” of the site was expected to appeal to a broad international buyer pool.

“We expect strong interest from institutional investors, offshore developers and syndicates targeting rare island sites capable of delivering landmark outcomes, particularly those with the flexibility to support multiple uses and adapt to evolving demand across residential and living sectors,” Wolman said.