CapitaLand’s wholly-owned serviced residence business unit, Ascott, has embarked on an A$5.1 million refurbishment of Somerset St Georges Terrace, located in Perth’s CBD.
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.
The property’s reception and common areas will be given a new contemporary look.
Kenneth Rogers, regional general manager for The Ascott Limited in Indonesia and Australia, said: "We see immense potential investing further in the Western Australia market."
