Slow electric charge will keep petrol-powered service stations in business

Property investor Bessim Saad is confident the 7-Eleven run petrol station he purchased for $3.2 million earlier this year will survive the electric vehicle onslaught.

Activity in the sector is starting to pick up again after several years of fuel retailing disruption. Fuel sales dipped as COVID restrictions kept people at home and slumped again this year, when the war in Ukraine sent energy prices soaring. The market uncertainty hasn’t stopped one of the country’s largest property funds, Charter Hall, inking deals worth more than $270 million this year through its Charter Hall Retail REIT with BP, Ampol, Gull and Z Energy to acquire or gain exposure to multiple service stations in Australia and New Zealand.

“Because it has taken such a long time to act on vehicle emissions, Australia is in a difficult policy position. Australia’s fleet is so far behind other regions, like the EU, it cannot immediately rush in the same standards.” Waypoint’s boss Hadyn Stephens said the trust’s primary long-term focus is on owning sites that are well-placed to navigate the energy transition.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business is booming in this holiday town, yet owners are struggling to keep their doors openAfter being understaffed for 15 months, returning backpackers are finally helping to fill the void in hospitality, but some say more needs to be done. 'Everybody stopped working in hospitality; where did they go?' Presumably to jobs where they get reliable hours and paid a living wage It’s so good that governments are crushing society all over the world to ensure small businesses are a thing of the past. We must ensure the rich get richer and the people poorer in line with WEF globalist agenda. 'We stopped hospitality workers of what little pay they have and don't give them job security and we have no idea why nobody wants to work'
Source: abcnews - 🏆 5. / 83 Read more »