Historic Menswear Site Sells

David Jones has confirmed that it has exchanged contracts on its historic Bourke Street menswear store at $121 million with Newmark Capital Ltd.

Newmark Capital is a property funds management business. It was founded in 2011 “to provide the opportunity for private investors to have access to high calibre commercial properties”. Newmark owns numerous commercial and retail assets in Victoria, including the South Yarra Jam Factory for which it paid $165 million in 2015. 

The Bourke Street…