The Melbourne headquarters of beauty products giant Natio (pictured, top, left and bottom) has sold for $13.7 million.
The off market deal for 106-110 Dougharty Road in Heidelberg West by agency Killen Thomas comes 11 months after another broker tried to offload it via an expressions of interest campaign.
Based on the annual rent Natio pays ($788,000), the modern commercial complex on the north-east corner of Waterdale Road is trading on a 5.75 per cent passing yield.
Agent David Marks confirmed today that he sold the building configured with a 6000 sqm warehouse and 1000 sqm office and showroom. The asset sits on a hectare of land.
The vendor was the original developer, Heidelberg Business Park Pty Ltd. The purchaser was a local private family.
Mr Marks’ marketing campaign promoted the asset as “ticking all the boxes” for an investor.
Natio is committed to the building for another 10 years.