The relocation of department store David Jones to Wollongong Central shopping centre has prompted the owners of the original site to put the property on the market, which is likely to attract residential developers.
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The 15,991 square metre property comes with airspace above Globe Lane and between two other properties.
It’s also being sold by a private vendor with no price disclosed, according to the agents on the deal, JLL's director, metropolitan sales and Investments, NSW, Paul Hunter and senior executive Gary Mason.
Mr Hunter said the 3503 sq m land area over two sites comprises 8998 sq m of retail space and a five-level car park building and basement storage of 6993 sq m, which would be attractive to a developer.
"Prospective buyers could look at owning and occupying the property, with the benefit of a large flexible floor space, repositioning the asset or fully redeveloping the site,” Mr Hunter said.
The sale price of the property and potential gross floor area are dependent upon the purchaser and eventual use of the site, given the differing floor space ratios.
David Jones is moving into the former Myer site, where it plans to open a "new-look" department store with a focus on food and digital and physical shopping options.
