Hopes are high Melbourne’s retail property market has turned a corner with the $223.5-million sale of the iconic David Jones Bourke Street Mall store.
It is the largest single-asset retail transaction in Melbourne’s CBD in more than eight years.
The landmark sale to Melbourne-based fund manager IP Generation represents more than just a property transaction, JLL senior director Nick Willis said, with the transaction “marking a significant milestone in the resurgence of CBD retail investments”.
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