STH BNK By Beulah set for Australia's first shared Private Auto Club for residents

The $2.7 billion mixed-use development, STH BNK By Beulah in Melbourne's Southbank, is continuing to break ground as one of the mostly luxury offerings the city will have seen for a number of years.

STH BNK By Beulah is set to offer Australia’s first-of-its-kind Private Auto Club for residents as car ownership declines.

The STH BNK Auto Club will see residents have the opportunity to use the fleet of luxury vehicles, from BMWs and Teslas to Porches and Range Rovers.

There will be 50 cars available to book, similar to a traditional car sharing model, with the added perks of an on-site team to clean, maintain and valet park cars, with chauffeur drivers available on request. Residents will be able to book a car via a mobile phone app or concierge.

It's a response by Beulah to data from the Federal Chamber of Automotive Industries which showed new car sales in Australia have been declining since 2017.

In April 2021, new car sales had plummeted 48.5 per cent year-on-year, the biggest decline in 30 years and the 25th consecutive month of plunging new car sales.

According to a 2019 RACV Survey, the cost of car ownership is 66 per cent more expensive than drivers realise, with the largest cost being the depreciation of the car, followed by loan repayments.

It is said that cars are motionless around 95 per cent of the time and in cities, this climbs to an average of 97 per cent.

To keep up to date with the development and its launch, enquire here

Beulah Managing Director Jiaheng Chan said the STH BNK Auto Club will assist residents in saving money, while also providing them with the luxury and accessibility a car affords.

“STH BNK is centrally located and boasts a walk score of 98, meaning a car is not a necessity. By providing residents with access to the STH BNK Auto Club, they can still enjoy the luxuries and freedom a car offers without the associated costs of car ownership, and in the process, can experience a range of different cars - depending on their mood or needs.

“This is just one of the many services residents will have access to at STH BNK as we look to cater to ever-evolving lifestyle choices, one that puts sustainability and technology front of mind,” he said.

STH BNK Auto Club will offer three tiers of membership levels including Silver, Gold and Diamond, with each member of the program able to select a tier based on their needs and wants; silver being the most cost effective, while Diamond provides access to luxury cars and EVs. EVs will be progressively added to the fleet, with Beulah committed to a full EV fleet by 2030.

To keep up to date with the development and its launch, enquire here

There will be two towers at the City Road address, one rising 102 storeys to be Australia's tallest tower at 366 metres. There will be around 449 apartments across the two towers, as well as a hotel, commercial, and retail space.

Construction is set to get underway in mid-2022, with a 2027 completion date forecast.