Tough times prompt Caltex to sell petrol stations
SIMON JOHANSONAUG 28, 2019
Fuel retailer Caltex Australia will offload at least 50 metropolitan petrol stations over the next six months as it tries to rationalise its network of more than 500 sites.
Caltex said about 500 sites in its company-controlled network had been identified as delivering strong returns from a beefed-up convenience offering with the potential to deliver growth through “disciplined execution”.
“Around 50 metropolitan freehold sites have also been identified as being able to deliver a higher value through alternative use and will be divested in tranches,” it said.
https://www.commercialrealestate.co...ompt-caltex-to-sell-petrol-stations-2-874048/
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