The Standard understands the two-storey building, on the corner of Lava and Liebig streets, sold for more than $2 million.

Real estate agent John Ryan said the sale was a positive sign for the CBD.

“It’s an important corner and an important building,” Mr Ryan said. “We are pleased with the result as we believe it had been unoccupied for far too long.” 

Mr Ryan said the new purchasers planned to do substantial upgrades and further works to the property.

He said the property had sold to a “national buyer”, but did not reveal who. The property failed to sell at auction in December, with a different agent. 

It was passed in at $1.51 million. 

Thomas Jewellers stores closed state-wide at the end of last year.