Ampol Limited (ASX:ALD (Caltex) and its bankers have turned their attention once again to finding a passive investor for a stake in the group's petrol station properties. It is understood Caltex and UBS went back to the interested parties this week and asked them to reconfirm their interest, before a more formal auction. They were told that up for grabs, once again, is a 49% stake in 250 petrol station sites owned and run by Caltex.

It plans to retain the other 51% and write long-term leases against the property portfolio. In terms of interested parties, there are a couple of obvious places to start the sale. Charter Hall Group (ASX:CHC) and APN Property Group Limited (ASX:APD) both own petrol stations in their listed REIT offshoots – and both have access to investor capital should they wish to strike again.

It is understood they were both interested when Caltex set off to pursue a property transaction late in year 2019 and are expected to line up again. Waypoint REIT Limited (ASX:WPR) (Viva Energy REIT) itself is another potential buyer.