Australia’s fuel retail sector has reached an interesting new chapter, with the first local service station leased to global energy giant Sinopec officially changing hands. The site at 325A Nepean Highway in Frankston has sold for $6,415,000, achieving a strong yield of 5.81 per cent. Strong Buyer Interest The property sits on a parcel of nearly three thousand square metres and attracted keen attention from investors. Five offers were submitted during the campaign, with a Sydney based buyer ultimately securing the purchase. The same investor has now bought multiple service station assets in recent months, showing continued confidence in fuel ...

Australia continues to rely heavily on imported fuel, raising concerns about how the country would cope if global supply routes were ever disrupted. Around four out of every five litres of the fuel used across the nation now comes from overseas, leaving the economy exposed to sudden changes in international conditions. A Shrinking Refining Sector Two decades ago, Australia had enough refineries to meet most of its own fuel needs. Over time, six of the eight facilities closed as they became too expensive to operate, leaving only two still running today. These are Ampol’s Lytton refinery in Brisbane and Viva ...