JACX Property has been engaged by department store David Jones as independent Transaction Manager for the divestment of its flagship Melbourne menswear store located at 299 Bourke Street, Melbourne. The six-storey building sits within the highly regarded “Golden Mile” precinct, and is one of only 14 properties with frontage to the Bourke Street Mall.
Our engagement includes the following key deliverables:
- Independent Transaction Manager
- Tender and appointment of agent, CBRE
- Working closely alongside CBRE in the preparation of campaign material, including due diligence reports, setting up of the data room and feasibility reviews)
- Management of the day to day liaison between CBRE and David Jones
- Coordinate with the appointed agent all property inspections;
- Independently critically review all purchase offers to ensure complete transparency throughout sales process;
- Provide strategy / negotiation advice to the appointed agent to ensure optimal outcome is achieved.
- Throughout the project provide unbiased expert advice to David Jones to ensure all decisions are well considered and in the best interests’ of David Jones
- Remain hands on during settlement period to ensure all risks are mitigated.
- Responsible for all reporting and program updates to David Jones property team and board.