Lockett Real Estate sales manager Paula Dwyer said the two-storey holiday home on East Beach sold this week for about $2 million to Melbourne buyers who were presently living in Asia.

David Jones’s son, David Jones junior, said his parRents had wanted the home to be sold after their deaths with the proceeds to go to their philanthropic Isobel and David Jones Foundation.

He said his parents had talked to him and his two sisters about their wishes and “we were happy to support it”.

Mr Jones junior said philanthropy was a big part of the lives of his father and mother and also his famous grandfather, Sir Fletcher Jones. Sir Fletcher was a south-west businessman famous not only for the chain of apparel stores he founded but also his generosity.

David Jones senior died in late 2011, nine weeks after the death of his wife.

Mr Jones junior and his two sisters Anne and Susan Jones are trustees of the Isobel and David Jones Foundation.

He said the house sale proceeds would add to funds already in the foundation.

Interest from the foundation is used to provide grants to community and charitable groups throughout the south-west and elsewhere in Australia.

Mr Jones said the foundation had no plans for any major donations. He said proceeds from the house sale and other foundation funds would be used to address the usual applications for support.

He said there were plans to combine the Isobel and David Jones Foundation with another established in 1958 by his grandparents  Sir Fletcher and Rena — The F. J. Foundation.

Their daughter, Lois Meurs, retained links to the foundation after her parents’ deaths.

It was her son, Peter Meurs of Perth, who suggested it be merged with the Isobel and David Jones Foundation to create a bigger funding pool that had the potential to create more community benefit than the two separate foundations, Mr Jones said.

He said it was likely to be another six months before the merger took place and for the amalgamated foundation to be “open for business”.

ehimmelreich@fairfaxmedia.com.au