Retail has been an important part of society. It has evolved meaningfully and will continue to do so.  Convenience retailing is expanding to smaller offers and more convenient access as evidenced by strong growth in Woolworths and Coles metro store formats.  Customers already typically visit a service station for essential access to fuel on a weekly basis. 

It is anticipated that in store sales will continue to grow at service stations, increasing profitability and ensuring long term viability and opportunity for rent and capital value growth. 

The Carpe Diem Essential Retail Trust owns 11 properties branded Caltex and head leased by highly credit rated Chevron Australia with no lease expiry until 2030 and options to 2050.  The portfolio rent growth is linked annually to CPI, providing an inflation hedge. 

The properties have all had rebranding upgrades in 2024/25 with new pumps, new apron signage and skins, rebranded and upgraded stores, and new pylon signs.