The $3.5 billion Regional Rail Link project added two stations, reserved three future stations and provided a new railway line through the western suburbs of Melbourne. Urbis acted on behalf of 35 property owners whose land was compulsorily acquired by the government in late 2011 and early 2012.
Urbis valued a diverse portfolio of properties across multiple planning zones – including residential, retail and industrial development land, future residential, retail, commercial and industrial development land and rural properties. For some properties, Urbis also provided independent, expert planning advice regarding the development potential of the acquired properties and the impacts of the new train line.
Urbis is an industry leader in valuing properties for compulsory acquisitions — our expertise helped land owners acquired for the Regional Rail Link project to settle for substantially more than the government had originally offered.
We attended numerous valuers’ conferences and mediation sessions as experts, and prepared detailed expert evidence reports for the Supreme Court or Tribunal. Urbis, in conjunction with Melbourne’s leading solicitors and barristers, guided its clients through the lengthy and complex compulsory acquisition process. Some of the complicated claims took more than three years to settle.
With our guidance and impartial expert advice, many of the land holders received settlements with significantly higher compensation payments than originally offered by the government – testament to our expertise in compulsory acquisitions.