Developments

$5m revamp for Perth apartments

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Ltd, has embarked on a $5.1 million refurbishment of Somerset St Georges Terrace, located in the heart of Perth’s business district.

The 85-unit property is undergoing refurbishment in phases that will be completed by mid-January 2014. Upgrades will be made to all studio and one-bedroom apartments, including living rooms, kitchens, bedrooms and bathrooms. These include fresh décor, new furniture and furnishings. The property’s reception and common areas will also feature a new contemporary look.

Kenneth Rogers, regional general manager for Ascott in Indonesia and Australia, said, “We see immense potential investing further in the Western Australia market. The refurbishment of Somerset St Georges Terrace will continue to enhance customer experience and see the property well positioned to service the buoyant market.”

Ascott has appointed ISIS as the main contractor and Point Management as the project manager for the refurbishment of Somerset St Georges Terrace Perth.AN55-2Somerset St Georges Terrace Perth 2

Somerset St Georges Terrace is a serviced residence located in the heart of Perth offering the choice of studio and one-bedroom apartments. Its prime location is within walking distance to art galleries, restaurants, bars, department stores and boutiques.

The Ascott Ltd, a wholly-owned subsidiary of CapitaLand Ltd, is a Singapore company that has grown to be the world’s largest international serviced residence owner-operator. It has more than 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 10,000 units which are under development, making a total of more than 33,000 units in over 200 properties

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