SA’s public compulsory third party (CTP) insurer has put its portfolio of properties up for sale.

The Motor Accident Commission’s (MAC) 11 commercial and industrial premises are being sold as part of the move to privatise CTP.

From July 1, SA’s more than one million motorists will be allocated to one of four approved private CTP providers – QBE, AAMI, SGIC and Allianz.

The commission’s portfolio is made up of 100,000 square metres of office accommodation and more than 60,000 square metres of industrial warehousing in Queensland, Victoria, WA, NSW and SA. Its estimated annual net income is more than $50 million.

“The sale of the MAC Direct Property Portfolio is a key component of the decision to move the provision of CTP to the private sector,” Treasurer Tom Koutsantonis said.

“The capital raised through the sale of these assets can be used to fund essential services and assist in the transformation of our economy.”