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RetailLeon Della BoscaWed 29 Jan 25

CBD Retail Hopes Rise on Back of Melbourne David Jones Sale

David Jones department store at Bourke Street Mall in Melbourne.

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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RetailMelbourneDeal
AUTHOR
Leon Della Bosca
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Article originally posted at: https://www.theurbandeveloper.com/articles/david-jones-melbourne-cbd-223m-sale-retail-recovery-victoria