David Jones Puts it’s Historic Market Street Store Up For Sale

Wednesday, February 24th, 2016
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One of Sydney’s most iconic retail emporiums could soon change hands for the first time since it was built almost 80 years ago.

David Jones will next month cast an international net to find a buyer for its landmark Market Street store.

The company opened the curved-cornered, sandstone building in 1938 to mark its 100th anniversary.

The inter-war era building houses the David Jones food hall as well as menswear, manchester and electrical goods.

Commercial real estate agents spearheading the sale are expecting significant interest from Australian and international developers.

There are reports the building could fetch David Jones as much as $350 million.

David Jones chief operating officer David Thomas said the sale would allow the company to focus on redeveloping its iconic Elizabeth Street store.

“Our aim is to transform the Elizabeth Street store into the southern hemisphere’s leading department store,” he said.

“We believe that having a neighbour with such strong attributes in this vibrant precinct will serve as an added attraction to any potential purchaser and we look forward to progressing the sale process.”

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