Melbourne Airport Rail Link (MARL) is a transformational public transport project that will deliver a new premium station at Melbourne Airport, via Sunshine and Footscray stations, and into the heart of the CBD through the Metro Tunnel.
The project required a combination of whole and partial compulsory land acquisitions, together with the temporary occupation of land throughout Sunshine, Albion, Sunshine North, Keilor East and Tullamarine.
A Public Acquisition Overlay (PAO) is in place in areas between Tullamarine and Sunshine to reserve land for a rail line. This was put in place in 2005, when landowners and tenants were notified of a possible future acquisition.
Urbis was engaged to provide independent valuation advice to the Department of Transport and Planning on the compensation payable to dispossessed owners and tenants who have had their property compulsorily acquired as part of the project. Our role in advising the Acquiring Authority included valuing Lessor Interests, Lessee Interests, and contemplating complex valuation matters, particularly industrial land values and investment grade assets.