In a significant milestone for Australia’s fuel retail sector, the country’s first Sinopec-leased petrol station in Frankston VIC has sold for $6,415,000.
The 2,948 sqm* site was acquired by a Sydney-based investor following a competitive campaign that attracted five offers.
“The purchaser has now acquired $18 million worth of petrol stations from our team in the past six months, underscoring sustained investor appetite for essential service assets,” said Mr Davies from commercial negotiators Cushman & Wakefield
The Frankston property is leased to Sinopec, one of the world’s largest oil and gas companies, consistently ranked among the Fortune Global 500 top 10.
This deal marks the beginning of Sinopec’s ambitious expansion strategy in Australia, with plans to roll out up to 400 petrol stations nationwide over the next three years.
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