Daikin-backed Airmaster HQ sells for $7.5m
A strata-titled industrial property abutting Eastlink – leased by Japan-based Daikin Industries as the Australasian headquarters of subsidiary Airmaster – has sold.
The two level, 2700 square metre office/warehouse at 2/52 Rocco Drive, Scoresby, fetched $7.5 million – a 7.21 per cent net passing yield.
It previously traded in mid-2011 for $3.665m.
At the time, Airmaster was paying $320,850 on a lease expiring in 2017.
Scoresby is about 27 kilometres south-east of Melbourne’s CBD.
Long lease
The Scoresby property spans 5192 sqm with 80 car parks (continues below).
It recently underwent a c$500,000 refurbishment.
Daikin is on a lease expiring in 2033 with fixed three per cent annual rent rises.
With three five-year options it can stay until 2048.
“Airmaster’s long-term commitment to the site, combined with recent capital investment and its connectivity to key arterial roads, made this a standout opportunity in a precinct that continues to attract strong competition,” Mr CBRE’s Shaun Venables, who brokered the deal with Rachael Fabbro and Jamie Perlinger, said.
Daikin bought the Australian-founded Airmaster in 2017 for $100m.
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