One of two sites to be sold.
The David Jones menswear store in Melbourne’s Bourke Street mall will be put up for sale and the department store will use some of the funds to refurbish its site across the mall to create a cohesive single-store experience.
The new-look store at 310 Bourke Street, due to be completed in 2021, will be specially curated for Melbourne CBD customers with an emphasis on premium luxury and lifestyle brands. The existing store footprint will be optimised to increase floor space and enhance the in-store experience.
Woolworths Holdings Limited (WHL) Group CEO, Ian Moir said the sale of 299 Bourke Street and development of an enhanced single-store offering represented a significant milestone in the brand’s retail optimisation strategy.
“The sale of 299 Bourke Street will allow us to deliver a more integrated retail experience to customers in Melbourne’s CBD,” he said.
“A single-store flagship housing the best local and international brands in one world-class destination will create a more seamless and cohesive experience for our customers. As we near completion of the redevelopment of our Elizabeth Street flagship in Sydney we remain committed to enhancing the in-store experience right across our retail network. We look forward to commencing the sale process and creating a new future for David Jones Bourke Street.”
The refurbishment, slated to commence in January 2021, follows a series of recent enhancements to the site, including updates to the Beauty and Luxury Accessories hall, updated lifts and escalators, and new Little Bourke Street airwalks, entrances and façade.
David Jones will appoint a commercial real estate agent to manage the sale of the site in the coming weeks.