Motor registry unit sale to start in new year

Victoria is expected to fire the starting gun for the sales process of the state’s motor registry unit in the new year. Picture: Andrew Henshaw

The Victoria government is expected to fire the starting gun for the sales process of the state’s motor registry unit in the new year, according to sources, with advisers now jockeying for roles to represent prospective buyers.

Those expected to be shaping up to enter the contest for VicRoads are the buyers of existing state land registry businesses throughout the country, with Macquarie Infrastructure and Real Assets being the most obvious contender.

Funds raised from the sale no doubt will be welcomed by the state of Victoria after what has been a horror year for the government on the back of a major COVID-19 outbreak that has triggered major trading restrictions and cost more than 700 lives.

Working on the sale of the Victoria Motor Registry unit is Morgan Stanley.

VicRoads handles all the state’s motor vehicle registrations, which helps to fund critical road infrastructure.

In South Australia, MIRA has the right to buy the state’s motor vehicle registry after it purchased the South Australian land registry with PSP for $1.6bn.

While it remains unclear how much the motor vehicle registry is worth, it could net the government more than $500m.

Earlier, MIRA and other super funds purchased the West Australian land titles services unit, Landgate, for $1.4bn.

In 2017, the NSW government sold its land title and registry business to Hastings Funds Management and First State Super for $2.6bn.