Australia’s First Sinopec Petrol Station Sells for $6.415M in Landmark Deal

In a significant milestone for Australia’s fuel retail sector, the country’s first Sinopec-leased petrol station at 325A Nepean Highway, Frankston VIC has sold for $6,415,000, reflecting a sharp yield of 5.81%. 

The 2,948 sqm* site was acquired by a Sydney-based investor following a competitive campaign that attracted five offers. The transaction was negotiated by George Davies, Raphael Favas, Oliver Hay, and Leon Ma of Cushman & Wakefield, who described the sale as a strong vote of confidence in the evolving fuel retail landscape. 

“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.

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.

With a 10-year WALE and a prime location on a major arterial road, the asset represents a secure, long-term investment in a sector undergoing transformation. 

“The sale highlights growing confidence in international brands entering the Australian market and the resilience of fuel retail assets amid broader economic uncertainty” said Mr Favas.