Clarkson retail shop sells for $5.4 million

The former Clarkson Retravision store, which has been earmarked to become a First Choice Liquor outlet, has sold at auction for $5.4 million.

The building, which was sold as vacant possession is located at 15 Ocean Keys Boulevard in Clarkson, and is subject to a 15-year lease to the Wesfarmers-owned liquor chain.

Retravision’s lease at the building expired in October last year.

The sale was negotiated by Vend Property on behalf of its vendor, privately held firm Sapna Investments.

Vend Property managing director Jeff Klopper said the sale represented a yield of 6.1 per cent.