Caltex selling three Sydney petrol stations

Caltex Caltex intends to sell three service stations in Sydney’s inner west as part of a plan to offload 50 properties across Australia.

The sites that have come up for sale are in Newtown, Concord West and Drummoyne, and are expected to appeal to mixed-use developers.

Experts believe that if sold together, the three petrol stations are likely to fetch more than $10 million.

The decision to sell the properties follows the company telling investors last month that it would sell 50 fuel outlets across Australia it had identified as having “higher value through alternative use”.

C&I reported last week, that Caltex was also selling seven petrol stations to developers across Melbourne, including Frankston, Box Hill and Forest Hill.

All service stations will be remediated by Caltex as part of the sale in a bid to reduce environmental concerns.

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