Caltex sold for $2m after 80 enquiries

Moama Caltex service station went under the hammer in Melbourne last week, selling for just under $2 million.

Kieran Bourke of Burgess Rawson said essential service assets such as petrol stations were cementing their popularity when it comes to post-COVID commercial property investments.

“With an increasing preference for secure essential service assets, we received strong interest in the Moama Caltex both in the lead up to, and on auction day,” he said.

“We had about 80 enquiries for the property, while 15 of those requested to see the contract.

“Selling almost $60 million in property over two days during a pandemic was a volume we did not expect, but it’s certainly clear investors are active and seeking quality investments.

Overall, we’ve experiences really fantastic levels of investor interest throughout May and June, with enquiries across the board up by 30-40 per cent from our pre-COVID-levens.”