EOI open for State Government MAC property portfolio

EOI open for State Government MAC property portfolioThe State Government has released an Expression of Interest (EOI) offering for sale the Motor Accident Commission’s (MAC) Direct Property Portfolio. The portfolio consists of 11 commercial and industrial properties across Australia. The MAC portfolio is comprised of approximately 100,000sqm of modern office accommodation and over 60,000sqm of industrial warehousing in prime locations across Queensland, Victoria, Western Australia, New South Wales and South Australia. The estimated net income of the MAC Direct Property Portfolio is over $,000,000 annually. The Portfolio is offered for sale by EOI closing 12 noon (ACST) on Monday 11 July 2016. Via a competitive tender process, the Government of South Australia appointed Jones Lang LaSalle (JLL) as its exclusive selling agent to market for sale the MAC Direct Property Portfolio. Properties for sale include (but are not limited to): 121 King William Street, Adelaide SA 400 George Street, Brisbane QLD 990 La Trobe Street, Melbourne VIC 226 Adelaide Terrace, Perth WA 3 Talavera Road, Macquarie Park NSW The sale of the MAC Direct Property Portfolio is part of the wider project underway to commence the private sector provision of Compulsory Third Party (CTP) insurance in South Australia. CTP insurance will be provided by four approved insurers from 1 July 2016, as part of the transition to a fully competitive market, similar to how CTP operates in other states. South Australia’s more than one million motorists will be allocated to one of the four private CTP providers – QBE Insurance (Australia) Limited, AAMI, SGIC and Allianz Australia Insurance Limited. There will be no changes to the way motorists pay for their CTP insurance and the Department of Planning, Transport and Infrastructure will continue to issue CTP insurance renewal notices as part of the vehicle registration process. Current payment methods will also remain including the EzyReg website and app and direct debit. In the fourth year, motorists will be able to remain with their allocated CTP insurer, or choose to shop around for potential better offers.