Newmark Bourke Street Mall Trust

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299 Bourke Street Mall

299 Bourke Street is a landmark property with scope to add value through repositioning the building into refurbished retail and office accommodation, and capitalising on the strong rental upside reversion and capital uplift opportunity.

At the expiry of the David Jones occupancy, Newmark proposes to refurbish the lower three levels as retail and upper four levels as office.

 

The Fund 

Status Closed
Fund Type Wholesale
Investment Objective Sustainable income and to achieve higher rental levels and capital growth through refurbishment
Inception August 2020
Distributions Paid Quarterly
APIR N/A
Investment Term 10 years with expected liquidity events after 3 years and 6 years

The Property

Property Type Retail & Office
Location 299 Bourke Street Mall, Melbourne, Victoria
Site Area 2,247m2
GLA 11,814m2
Anchor Tenants David Jones
Carparks N/A
Occupancy 100% (September 2020)

 

 

In the news

Newmark plots future for David Jones store - Financial Review - July 29 2020

David Jones menswear store sells as buyers defy city lockdown - The Australian - July 29 2020

Newmark Capital

Level 17, 644 Chapel Street
South Yarra VIC 3141
Email: [email protected]
Phone: (03) 9820 3344
Fax Number: (03) 9066 3999



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