This article is from the Australian Property Journal archive
JASBE Petroleum has purchased a 6,693 sqm property in Melbourne’s south-eastern suburb of Clayton for $4.65 million, intending to develop the corner site into a service station and fast food complex.
Crabtrees agents Chris McKenzie, Rodney King and Gavin Dumas, in conjunction with David Marks of Killen Thomas, sold 548 Clayton Road under the hammer.
Located within the industrial hub, the highly exposed site was offered with vacant possession and Industrial 1 zoning, and has frontages of around 80 metres to both Clayton Road and Osborne Avenue.
McKenzie said the location, size and flexibility of the Clayton site generated very strong enquiry. Potential uses for the site also include office, showroom and warehouse development and display yards. Truck and bus repair specialists Truckrite previously occupied the space and are now located in Dandenong South.
Jasbe, formed by Jason Be, Jasbe owns and manages around 40 BP-branded service stations along the east coast. Last year, it sold the freehold of a Cranbourne BP for $11 million, shortly after offloaded the freehold of an Epping BP service station in the northern suburbs for $9 million.
Jasbe told Nine Media last year it was divesting some assets to recycle capital into the business.
The group is currently grappling with blowback from Baw Baw Shie Council and local community to its proposed development on an 8.48-hectare site in Yarragon, in West Gippsland, which would have a service station and two fast food outlets.
