Current Opportunities Skip to main content
Home /Unlisted Funds / Newmark Bourke Street Mall Trust

299 Bourke Street, Melbourne VIC 3000

This landmark property in the retail heart of the Melbourne CBD was acquired in September 2020 while occupied by the major retailer David Jones.

Newmark acquired the property having identified an opportunity to add value through an adaptive re-use strategy including the addition of new lettable area, repositioning the building into refurbished retail and office accommodation, following David Jones lease expiry in 2022. Through the same period Newmark was able to pre-commitment 90% of the property to leading tenants including Clemenger, Mecca and Rodd & Gunn.

Refurbishment works have a target completion timing of late 2023.

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 Currently on hold during construction
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 Mecca, Clemenger and Rodd & Gunn
Carparks N/A
Occupancy 95% Pre-committed