Melbourne is a big winner following the announcement of the recent Federal Budget with significant new infrastructure projects including the $5 billion Melbourne Airport Rail Link notable highlights, according to Jason Beveridge, Director, Raine & Horne Commercial Victoria.
“Commercial property markets in western Melbourne are set to benefit significantly from the building of the Airport Rail Link, which has been a bit of a political football for decades,” said Jason. “Traffic congestion to and from the airport is a significant economic and commercial hand break, and this rail link will finally help address these problems.”
The rail link project will prove a valuable investment in improving Melbourne’s logistics sector and should be a shot in the arm for tourism, noted Jason. Other major infrastructure projects committed to in the 2018/19 Federal Budget include the $1.75 billion North East Link, the $475 million Monash Rail, a rail link to Monash University's Clayton campus, and the electrification upgrade of the Frankston to Baxter Rail Link.