Super funds capitalising as distressed properties hit market

Property in self managed super SMSF superbenefit

Property, SMSF

Self-managed super funds and private buyers are capitalising on the distressed assets that are hitting the market in Victoria. Jeremy Gruzewski, Colliers International’s director of investment services, said the balance of the distressed assets in Victoria came onto the market in the second half of last year. However, the number had been minimal compared with the northern states, he said. According to Colliers research, 598 distressed properties were recorded on the market in 2010, compared with 775 in 2011 (not including properties under $1 million), a rise of almost 30 per cent. Mr Gruzewski, who is also Victorian team leader for Insolvency Property Services, said self-managed super funds mostly wanted leased assets valued at $1 million-to-$3 million.
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