Frankston, Box Hill and Forest Hill are among seven Caltex petrol stations being sold off to developers across Melbourne. The properties are among 25 the fuel giant is selling off nationwide and expected to drive developer demand with prominent addresses and large allotments.
A Caltex spokesman said the properties were being sold as they “continue to review and evolve our network” and “they have been identified as being able to deliver a higher value through alternative use”.
“As part of our ongoing network strategy we will continue to open new sites and invest in existing locations,” the spokesman said.
The Australasian Association of Convenience Stores (AACS) CEO Jeff Rogut said Caltex had flagged a review of their locations so the move didn’t come as a surprise. “The convenience industry overall is performing well in a reasonably tough retail environment, largely due to the innovative efforts by our retailers, particularly around the food and beverage categories,” said Rogut. “Such changes in networks is not unusual and may offer the opportunity for competitors in the vicinity of the closed locations to increase their share in those markets.”
“In Victoria, we have opened five new sites over the last 18 months. While the six sites for sale will remain operational as we work through the sale process, when they close we have ensured there is a StarCard accepting site within four kilometres so we can continue to meet the needs of our customers.”
Petrol stations set to go are Forest Hill, Box Hill, Brunswick East, Clayton, Frankston, Carnegie and Pascoe Vale.