First State Super secures Victorian land title registry with a $2.86bn bid

First State Super has won control of Victoria's land title registry with a $2.86bn bid.

It secured the right to operate the land titles and registry functions for 40 years.  

Victoria will keep control over prices for statutory land registry services.

The State Labor Government will use the cash for infrastructure, including new schools, hospitals and transport.

The public sector super fund and Hastings Funds Management last year won a 35-year lease on the the land titles registry in New South Wales with a bid of $2.6 billion.

First State Super has 773,000 member accounts — nurses, midwives, teachers, police, firefighters and paramedics — and $63.7 billion funds under management.

Michael Dwyer, First State Super’s CEO, says the fund has more than 180,000 members in Victoria.

“We see land registries as critical economic infrastructure with strong investment fundamentals.”