Nolo Apartments at 23-33 Lonsdale Street is not student accommodation. It is a 150-key serviced apartment building sold by the night, and as of 2026 it is being rebranded as Urban Rest Melbourne CBD under a management agreement with serviced-apartment operator Urban Rest. There is no academic-year lease, no student contract, no bond, and no per-week student rate. You book it the way you book a hotel.
That matters because the numbers are not close. Listings for the building in early September 2026 start around AU$181 a night including taxes and fees. Seven nights at that rate is roughly AU$1,267. The genuinely student-focused building a few doors west at 39 Lonsdale Street, Student Living on Lonsdale, lists studios from about AU$469 a week with bills included. Same street, same postcode, and a weekly cost that differs by a factor of about 2.7.
None of that makes Nolo a bad building. It makes it a different product. Serviced apartments are priced for corporate travellers who need a full kitchen, a laundry and a desk for a few weeks, and Urban Rest says openly that it targets business travellers wanting "space, flexibility and effortless service". If you are a student, the honest question is not whether Nolo is good. It is whether the specific thing it sells — total flexibility at a nightly price — is worth paying for, and for how long.
There is one more thing worth correcting before you plan around it. Lonsdale Street numbering starts at Spring Street, so 23-33 Lonsdale is at the eastern end of the CBD, roughly a minute from Parliament station. It is not near Melbourne Central or Flagstaff, and it is not the walk-to-RMIT corner that "Lonsdale Street" suggests to most students.
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Quick facts
| Fact | Details |
| Address | 23–33 Lonsdale Street, Melbourne VIC 3000 |
| What it actually is | Serviced apartments, 150 keys, 29 storeys, opened in 2007, rebranding to Urban Rest Melbourne CBD |
| Indicative rate | From about AU$181 per night including taxes and fees (Expedia, 4 September 2026); operator site quotes AU$159–350 per night |
| Booking basis | Nightly. Minimum stay of 7 nights on at least one corporate channel; no minimum on retail travel sites |
| Apartment types | Studio Superior (~25 sqm), The Lonsdale Studio, One Bedroom Superior (~60 sqm), One Bedroom DDA accessible, Two Bedroom (~83 sqm), Two Bedroom Two Bathroom, Three Bedroom (~105 sqm) |
| Nearest station | Parliament, about a 1-minute walk |
| RMIT City campus | About 900 m, roughly 11–12 minutes on foot |
| University of Melbourne, Parkville | About 2.2 km, roughly 28 minutes on foot |
| Parking | Limited on-site self-parking, AU$45 per night with in/out privileges |
| Laundry | Washer/dryer inside 1-bedroom and larger apartments; studios have kitchenettes |
| Security | Digital self-serve check-in kiosks, secure digital apartment access, on-site security, local support team |
Where 23-33 Lonsdale Street actually sits
This is the Parliament end of the grid, between Spring Street and Exhibition Street, opposite the theatre and gardens end of town rather than the campus end. That gives it two genuine advantages and one real drawback for anyone studying.
The advantages are transport and quiet. Parliament station is about a minute's walk up Lonsdale to Spring Street, putting you on every City Loop line without a tram transfer. The eastern CBD is also markedly calmer at night than the Swanston Street and Elizabeth Street strips, with the Carlton Gardens, the Royal Exhibition Building and Her Majesty's Theatre as neighbours rather than nightclubs.
Where 23-33 Lonsdale Street actually sits
This is the Parliament end of the grid, between Spring Street and Exhibition Street, opposite the theatre and gardens end of town rather than the campus end. That gives it two genuine advantages and one real drawback for anyone studying.
The advantages are transport and quiet. Parliament station is about a minute's walk up Lonsdale to Spring Street, putting you on every City Loop line without a tram transfer. The eastern CBD is also markedly calmer at night than the Swanston Street and Elizabeth Street strips, with the Carlton Gardens, the Royal Exhibition Building and Her Majesty's Theatre as neighbours rather than nightclubs.
The drawback is the campus walk. RMIT City campus is centred on 124 La Trobe Street and Bowen Street: about 700 m west along Lonsdale to Swanston and then a block north, so call it 900 m and 11-12 minutes door to lecture theatre. That is fine. The University of Melbourne is the harder one. Parkville sits roughly 2.2 km north, around 28 minutes on foot, and the tram alternative comes with a catch. Melbourne's Free Tram Zone is bounded by Spring, Flinders and La Trobe Streets plus the Victoria Street, William Street and Elizabeth Street routes, and the Parkville campus is north of that boundary. A tram to Melbourne University is a paid Myki fare in both directions, every day, for the whole semester. That is one reason our guide to student housing near the University of Melbourne pushes people toward Carlton and Parkville addresses instead of the CBD.
Melbourne Central station and shopping centre, with the Coles beneath it, is around 900 m west, roughly a 12 minute walk. Flagstaff station is further again at about 1.4 km, and there is no reason to use it when Parliament is at the front door. The eastern CBD is thinner on groceries than the Swanston Street corridor; the practical options are the Melbourne Central Coles or the supermarkets in the QV and Bourke Street precincts, both around 10 minutes on foot.
Apartment types, and what the "from" price actually buys
The unit mix is unusual and worth reading carefully, because the headline rate does not describe the typical apartment. Listed inventory runs to roughly 10 studios, 98 one-bedroom apartments, 21 two-bedrooms, five two-bedroom two-bathrooms and five three-bedrooms, plus accessible units. The building is overwhelmingly one-bedroom stock.
Published sizes vary by source, which is a caution in itself. The operator's distribution partners list the Studio Superior at about 25 sqm, the One Bedroom Superior at about 60 sqm, two-bedrooms at 80-83 sqm and three-bedrooms at about 105 sqm. A separate corporate listing gives smaller figures for several of the same types. Treat the sizes as approximate until you see a specific unit's floor plan.
The "from AU$181" figure refers to the cheapest configuration on the cheapest available date — a studio, not the one-bedroom that makes up most of the building. The operator's own site quotes AU$159 to AU$350 per night depending on type, and a Victorian tourism listing shows AU$150 to AU$375. Splitting a three-bedroom is the cheapest way in: three people in a 105 sqm three-bedroom at the top of the published range is roughly AU$125 each per night, still far above any student rate in Melbourne. Nightly pricing moves with demand, so an Australian Open week will not resemble a quiet week in July.
Studios have kitchenettes. One-bedroom and larger apartments have full kitchens with oven, cooktop, microwave, coffee machine, fridge and dishwasher, plus an in-apartment washer/dryer. The useful mental model is not studio versus ensuite in a student building but a serviced one-bedroom flat with a hotel's service layer bolted on.
What the rate includes, and what it does not
Included: fast free WiFi, an initial supply of pantry essentials and bathroom amenities on arrival, weekly housekeeping, a smart TV, air conditioning, and — in a one-bedroom or larger — your own washer/dryer, which removes the coin-laundry line item that eats into a lot of student budgets.
Not included, and this is the part students underestimate:
- Parking at AU$45 per night. On-site self-parking is limited and charged nightly with in/out privileges. Over four weeks that is AU$1,260 on top of the apartment. Do not bring a car here.
- No academic-year certainty. Nightly rates float. A student contract locks a weekly rate for 44 or 51 weeks; a serviced apartment locks nothing beyond your booked dates.
- Early check-in costs extra. Check-in starts at 3:00pm and runs to midnight, with early check-in available for a fee and subject to availability. If you land at 6am from a long-haul flight, budget for it or plan around it. Our guide on arriving when reception is closed covers the wider problem.
Three facilities that actually change the maths
Digital self-serve check-in kiosks and secure digital apartment access. The single most useful feature here for an international student has nothing to do with studying. Arrival at an odd hour does not depend on a reception desk being staffed, which is the failure point that strands people on their first night in Melbourne. It makes Nolo a credible landing pad rather than a home.
The in-apartment washer/dryer. In a one-bedroom or larger, laundry is free and private. Coin laundries in Melbourne student buildings run a few dollars per wash and per dry, and more to the point they come with a queue you never join here.
The gym and wellness space by Conditn, plus the communal lounge and co-working space. These are the amenities that make the building read like modern student accommodation, and they are why students find it at all. Be clear-eyed: the co-working space is listed as a recent or forthcoming addition under the refurbishment, and a lounge designed for consultants on laptops is not a 24-hour study space with bookable rooms and printing. If study space is what you are buying accommodation for, a purpose-built student building beats this comfortably.
Security
Security here is hotel-grade rather than student-accommodation-grade, and the difference is worth stating plainly. There is fully secure digital access to the apartments, on-site security, digital check-in kiosks, a local support team, and documented fire certification and safety checks. In-apartment safes are noted in some units.
What you do not get is the student-specific layer: no residential life team, no on-site student support staff trained in welfare escalation, no wellbeing check-ins, no residents' agreement governing guests and noise between people in the same situation. Your neighbours are business travellers and short-stay guests who turn over constantly. For most people that is neutral. For a first-year student living alone in a new country it is a genuine loss, worth reading alongside our guide to safety for female students in Melbourne.
The money, over a real academic year
Melbourne student contracts are typically quoted over about 44 weeks for a standard academic year. Run Nolo over that period and the comparison stops being arguable.
At an indicative AU$181 per night, 44 weeks is 308 nights, or roughly AU$55,700. That is the cheapest published configuration held at its lowest rate for an entire year, which no serviced apartment will actually do.
Against that:
- Student Living on Lonsdale, 39 Lonsdale Street, studios listed from about AU$469 a week: roughly AU$20,600 over 44 weeks, bills included.
- Scape Franklin, near RMIT's Franklin Street campus, listed from about AU$459 a week with bills included: roughly AU$20,200 over 44 weeks. We cover it separately in our Scape Franklin property guide.
So the serviced apartment costs roughly two and a half to three times a comparable student studio on the same street, and the gap is wider once you add parking or early check-in fees. The only framing in which Nolo makes financial sense is the short one. Seven nights at about AU$1,267 to land, sleep, and go to inspections is a reasonable, even sensible, spend — considerably cheaper than a month of hotel nights and far more flexible than committing to a lease sight unseen. Fourteen nights at roughly AU$2,530 still passes. Anything past about a month and you are paying a large premium for an option you have stopped using.
If you want the alternatives ranked properly, start with the best student accommodation in Melbourne and then read PBSA versus private rentals to work out which contract structure you actually want.
Who this suits
- Students arriving before a lease starts, who need a secure, self-contained base for one to three weeks while they inspect properties in person.
- Anyone whose visa or arrival date is uncertain and who cannot commit to a fixed tenancy start. No bond and a stated seven-day cancellation policy on at least one channel is worth real money in that situation.
- Postgraduates and researchers on short Melbourne placements of two to eight weeks, particularly if an institution or grant is paying.
- Families visiting for graduation or move-in, where a two- or three-bedroom apartment near Parliament station beats three hotel rooms.
- Students arriving at an awkward hour who cannot rely on a staffed reception.
Who this does not suit
- Anyone budgeting for a full academic year. The total-cost gap against a student building on the same street is not recoverable.
- Students who want the residential-life side of accommodation: a cohort, an events programme, a support team.
- University of Melbourne students who plan to walk to campus. It is 2.2 km, and the tram to Parkville leaves the Free Tram Zone, so it is a paid fare twice a day.
- Anyone bringing a car. AU$45 a night is a hotel parking rate, not a student one.
- Students who need study space at home. A co-working lounge is not a library, and a 25 sqm studio is tight for long sessions.
- Anyone relying on a student aggregator to do the checking. Nolo does not appear on the student platforms, precisely because it is not student accommodation, so the usual comparison tools will not surface it or its terms.
Frequently asked questions
Is Nolo Apartments on Lonsdale Street student accommodation?
No. It is a serviced apartment building at 23-33 Lonsdale Street, Melbourne VIC 3000, sold by the night, and as of 2026 it is being rebranded as Urban Rest Melbourne CBD under a management agreement with the serviced-apartment operator Urban Rest. There is no academic-year contract, no student eligibility requirement and no student rate. Students can stay there, but they stay as guests, not tenants.
What does it cost per week for a student?
There is no weekly student rate. Converting the indicative nightly rate of about AU$181 including taxes and fees gives roughly AU$1,267 for seven nights in the cheapest configuration. For comparison, Student Living on Lonsdale at 39 Lonsdale Street lists studios from around AU$469 a week with bills included. Treat all of these as indicative starting figures for the cheapest available option, not the price of a specific apartment.
Do I need to pay a bond or have a guarantor?
No, because there is no residential tenancy. A nightly booking uses a card guarantee and a cancellation policy instead — one corporate listing states a seven-day cancellation policy. That is genuinely simpler than a lease, and it is the main structural advantage of a serviced apartment for someone whose visa timeline is uncertain. If you are trying to work out whether you need a guarantor for other Melbourne options, that is a separate question worth answering before you book anything.
How far is it from RMIT and the University of Melbourne?
RMIT City campus at 124 La Trobe Street is about 900 m away, roughly 11-12 minutes walking west along Lonsdale Street then north. The University of Melbourne's Parkville campus is about 2.2 km, or around 28 minutes on foot. Parliament station is about a minute away, but the tram to Parkville crosses out of the Free Tram Zone at Victoria Street, so a fare applies.
Is there a minimum stay?
It depends on the booking channel. A corporate serviced-apartment listing states a seven-night minimum, while retail travel sites show no stated minimum and a standard 3:00pm check-in. Confirm the minimum with the operator's reservations team for your specific dates before assuming either.
Is parking included?
No. On-site self-parking is limited and charged at AU$45 per night with in/out privileges, and must be arranged through the reservations team. Over a month that is more than AU$1,300, which is why we would advise against bringing a car to this address.
Should I book it before I arrive in Australia?
As a short landing pad, yes, and it is one of the few genuinely defensible reasons to pay serviced-apartment rates. Book seven to fourteen nights, use the digital check-in so a late-night arrival is not a problem, and view your longer-term accommodation in person. Our guide to booking student housing before arriving in Australia sets out how to sequence it.
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Bottom line
Nolo Apartments is a well-located, well-specified serviced apartment building at the Parliament Station end of the CBD, being absorbed into Urban Rest's Melbourne portfolio through a multimillion-dollar refurbishment. If you are searching for it as a student, the most useful thing anyone can tell you is that it is not competing with student accommodation. It is competing with hotels, and its rates reflect that.
Use it for the thing it is genuinely good at. One to three weeks on arrival, with secure digital access, a full kitchen and your own washing machine, is a far better first fortnight in Melbourne than a hostel or a hotel room, and it lets you inspect long-term housing with your own eyes rather than committing from overseas. Roughly AU$1,267 for that week is a defensible cost of doing housing properly. What is not defensible is drifting into a third or fourth month at nightly rates because you never got around to signing a lease.