Land Titles Office

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

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The Victorian state government is set to call for expressions of interest in its land titles and registry unit.
The sale process will offer a 40-year concession for a private operator to run the business. 
Australian and offshore infrastructure funds, superannuation and pension funds and registry companies are expected to line up in the land titles auction, the Australian Financial Review has advised.
It will be overseen by investment bank UBS and law firm Minter Ellison. 
It will offer the right to run the state's land titles unit for the next 40-years, to oversee all land registry functions and transactions excepting subdivisions, application and survey (which registers complex survey and plan based dealings and applications) and the official role of Registrar of Titles, which oversees the whole operation. 
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<div id="article-inline-ad" class="adWrapper">The state is expected to retain control of pricing over statutory land registry services and monitor the pricing of other services provided under the contract. </div>
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The other exclusions from the sale include the Valuer-General Victoria, Surveyor-General Victoria, Land Information and Spatial Services, Government Land Advice and Coordination and the Victorian Government Land Monitor.
Victoria Treasurer Tim Pallas will launch the tender this week. 
The transaction comes after New South Wales and South Australia privatised their land titles office.
It comes Western Australia also considers privatising its land titles unit, Landgate.
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Victoria land titles set for privatisation

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The Victorian land titles office might go the same way as its counterpart in New South Wales.
Following Premier Daniel Andrews announcement of a $2 billion-odd price target on the state's land titles office, government officials are in the market for scoping study advisers, according to Street Talk in The Australian Financial Review.
The state’s Department of Treasury and Finance has written to major law firms seeking sale ideas, credentials, experience on similar deals, potential costs and the like, according to Street Talk. 
The development might see big firms being pitted against each other. Herbert Smith Freehills will be up against the likes of Allens - which recently advised Hastings Funds Management and First State Super on their acquisition of NSW's land titles registry - Minter Ellison, Baker McKenzie, King &amp; Wood Mallesons, Ashurst and Clayton Utz. 
Infrastructure fund manager Hastings Funds Management and pension fund First State Super <a href="https://www.urban.com.au/expert-insights/investing/68709-hastings-fund-management-win-nsw-lpi-tender" target="_blank">signed a $2.6 billion deal</a> to operate NSW's land titles and registry business earlier this year.
Victoria is expected to appoint a legal adviser before looking for investment banks and accounting firms to explore options.
It's likely to need all three for the scoping study and a sale, should the scoping study make findings as expected, Street Talk said.
South Australia is also privatising its land titles office, seeking bids next month. 
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