Superestate, the first non-SMSF superannuation fund to invest in residential property, has partnered with The Agency, appointing the network’s property management team to manage the first investment.
The model sees members choose either a 25 per cent or 50 per cent exposure to residential property as the Superestate team builds a national residential property portfolio.
The team behind Superestate includes founder, former Australian Olympic swimmer and investment banker Grant Brits, and investment committee members economist Dr Andrew Wilson and auctioneer Damien Cooley. The team search for attractive properties in both blue chip and gentrifying metropolitan suburbs; the properties will be continually evaluated, including independent external valuation.
“Our investment philosophy is to build a diversified portfolio of high-quality Australian residential property for the long-term benefits of members. The national plan involves expansion into all major Australian capital cities; we have started in Sydney and soon expect to have investments in both Melbourne and Brisbane. This diversification is very important, as it gives our members exposure to a broad range of markets and properties,” Mr Brits explains.
“We’re typically looking at inner-city suburbs that are highly desirable places to live. These locations tie in very closely with the growth and expansion plans of The Agency – a focus on the core suburbs of our largest and most prominent cities.”
The synergies between The Agency’s rapid national growth in Australia’s blue chips markets and Superestate’s planned expansion led to the appointment of The Agency’s property management team to the first investment property in Sydney, 63 Stafford Street, Stanmore.
“Working with a business that is also going through an expansion phase will hopefully allow both businesses to grow together. Ultimately, it was a shared vision of what was possible for both businesses that helped to cement the relationship,” says Mr Brits.
Superestate’s residential investment plan provides dual income streams, one from a positive rental yield and the other through long-term equity growth. An additional part of the strategy is to offer long-term leases, an important approach in the view of The Agency’s National Director of Property Management, Maria Carlino.
“Long-term leases are not easy to find; Superestate will be providing for the community, as tenants will know they are ‘safe’ and can make their rental home a real, long-term home,” Ms Carlino says.
“Perfect for the investor building a portfolio who wishes to have greater tax benefits by leasing their residential home out, or for a growing family. Nothing is worse than moving a complete household, particularly if you have children.”
There has been considerable interest from real estate professionals in Superestate’s residential property offering, as it is something they understand clearly.
“Investing with Superestate gives agents and those outside real estate an opportunity to invest their super into something that they can relate to and is such a big part of Australian culture,” National Director of Sales Thomas McGlynn explains.
“We are extremely excited to be involved in Superestate’s first residential property purchase.”