250 Elizabeth Street ‘Somerset on Elizabeth’
The property is on an extended lease to “The Ascott Group under the trading name Somerset on Elizabeth” the world’s largest international serviced residence owner. The lease period is for 10 years with 6 x 10 year options.
It is an income pooled lease and is split according to lot liability such as size/location in the building (this can be found in the section 32).
Furnishings & Maintenance
The property is fully furnished and maintained by Somerset to a high standard similar to other serviced apartments in the complex & will be refurbished/replaced as necessary from the Revenue fund (already deducted from your net income).
To ensure income is not impacted there are no free nights/discounted stays on offer to the owner.
Travellers searching for accommodation in Melbourne will love Somerset on Elizabeth, located in the heart of Melbourne’s Central Business District. An abundance of restaurants and shops surround the fully furnished serviced apartments. Somerset on Elizabeth is perfectly positioned to cater for the business and leisure traveller.
Strategically located in the heart of Melbourne, these serviced apartments are right in the heart of the Central Business District, a short stroll from Bourke Street Mall with easy access to Myer Department Store.
- Chinatown (less than 1km)
- Bourke Street Mall (less than 1km)
- Theatre District (less than 1km)
- MCG and Rod Laver Arena (approx 3km)
- Melbourne Central (less than 1km)
- Queen Victoria Market (less than 1km)
- Myer Melbourne (less than 1km)
- Tullamarine Airport (25km)
If you are looking to purchase/sell a serviced apartment in this complex or any other CBD locations please register your interest here.
* Every care has been taken to verify the accuracy of details in this blog. Prospective purchasers are requested to take such action as is necessary to satisfy themselves of any pertinent matters.