Asking $95m

JUST months before its final launch the David Jones store is on the market with a $95 million price tag.

The department store is owned by Bellenville, a joint venture between Victorian developer MAB Corp and investment bank Babcock & Brown.

MAB Corp general manager Neil McLennan said the company plans to have the sale locked away by June this year.

Bellenville acquired the Aherns property in 1999 along with the Savoy Hotel site.

“We’ve never been a developer that holds property, we’re a get in get out type of developer,” Mr McLennan said.

MAB Corp worked closely with Aherns to make the development work for David Jones in Perth.

The sale is expected to drawn considerable interest both in Australia and overseas.

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