Latest news with #MetroTunnel
News.com.au
6 days ago
- Business
- News.com.au
Melbourne commuter chaos looms for months as Metro Tunnel nears completion
Melbourne commuters can expect headaches for the rest of the year as the $15bn Metro Tunnel opens in stages. Passengers on three different train lines will have to switch at either of two different stations as the first trains carrying passengers through the new tunnel are opened to the public. Speaking to media on Saturday, Transport Infrastructure Minister, Gab Williams, said the amount of disruptions owing to the state's massive infrastructure projects was too long to list. 'You've probably already seen the media release with an outline of many of the disruptions that will be taking place over the winter break, because we have a huge winter of work,' she said. 'So I won't go through all of them. I will choose to single out a few, but in short, we are ensuring you know the final stretch and opening, getting ready to open, the Metro Tunnel project and of course as well the West Gate Tunnel.' On June 21, the train-carrying Metro Tunnel will run a 'dress rehearsal', however the tunnel hasn't yet been signed off to transport passengers. On this one rehearsal day, passengers on the Sunbury, Cranbourne and Pakenham lines will have to switch trains at Caulfield or Footscray stations. The empty trains will then continue on through the tunnel as a sort of dry run. There are two AFL games in Melbourne on that Saturday, being contested by four Melbourne-based teams. Ms Williams said staff will 'be out in force' at the stations where passengers have to get off the train to tell people where to go, on top of the usual announcements ringing out. This June 21 trial marks the first in a string of major transport disruptions over the next six months. Final works on the West Gate Tunnel will cause lane closures on outbound arterial routes later in the year. Sections of the Eastern Freeway will be shut during the weekends in August and buses will replace trains on the Hurstbridge line in July.
News.com.au
30-05-2025
- Business
- News.com.au
Melbourne's Metro Tunnel project transforms Shrine into hot property
A Metro Tunnel real estate boon is turning Melbourne's Shrine of Remembrance into hot property. The St Kilda Rd and South Melbourne office precinct neighbouring the soon-to-be opened Anzac Train Station opposite the Shrine has been tipped for rent rises of as much as $35 a square metre (8.5 per cent) as the new rail hub comes online this year. It follows another leasing boon along Swanston St where food and retail operators have been signing up long-term leases in anticipation of increased foot traffic in that area. Commercial real estate firm JLL has tracked significant increases in leasing activity in the area, with more than 19,500sq m of office space within the Anzac Station's walking-distance catchment attracting new leases in the past year. While Property Council data indicates Melbourne's CBD has close to a million square metres of office space untenanted, withan 18 per cent vacancy rate, there are now 26 buildings in walking distance of the future train station on St Kilda Rd with full occupancy. JLL head of strategic research Annabel McFarlane said after years of construction disruption the anticipated completion of the metro tunnel, businesses were already moving to take advantage of the area — something that was expected to happen in the years ahead to the Arden-Macaulay precinct on the other side of the CBD. 'We are already seeing it's influence in the St Kilda Road office precinct, with increased office leasing activity around the St Kilda Road ANZAC station site now that the worst of the above ground disruption has come to an end,' Ms McFarlane said. 'We anticipate this to accelerate for this precinct as the benefits of the location become apparent with the opening of the station and businesses seek to access a wider talent pool. 'The businesses are confident that it will give them access to more staff and better foot access for their customers.' Separate research by the firm shows there is an 8.5 per cent premium for city-fringe office hubs within walking distance of train stations in South Yarra and Richmond. 'A similar uplift in average rents to office assets in the ANZAC station precinct of St Kilda Road implies rents could rise from circa $415 per sqm pa to approximately $450 per sqm pa when the Metro rail project completes,' Ms McFarlane said. Ms McFarlane said while needs were changing for many offices, particularly the amount of desk space required, the need for space wasn't necessarily dropping – as many businesses were seeking more meeting rooms and collaborative areas. Ironically, work from home is part of what they believe is driving the demand along the Metro Tunnel. 'Work from home has amplified the importance of well located offices, because you are potentially competing with work-from-home and if you need to have your staff connected in a building, you want to be in a better location to make that worthwhile for your staff to come in,' Ms McFarlane said. Overall, the Metro Tunnel is expected to divert about 32.7 million commuters a year from traditional rail routes. It is expected to open to public use in the coming months, with stores inside the train stations having already attracted strong leasing activity from a mix of dining and retail groups. In addition to Anzac Station on St Kilda Rd, the other new stations will include Parkville and Arden Stations north of the city, as well as CBD stops at the State Library and Town Hall. While already well connected pockets of Melbourne such as Collins St, and particularly the Spring St end of it, were clearly the city's main attractions, and there was ongoing demand for the eastern end of the CBD, the infrastructure boon would have an impact. 'We feel the Anzac Station will have the most noticeable change as it wasn't well connected before,' Ms McFarlane said. While Parkville which is also part of the new tunnels list was already very much in demand for education and biomedical businesses, she added that the future of the Arden-Macaulay precinct on the north side of the city was likely to see a similar result to the Anzac Station pocket over time. 'Arden is the next most interesting, but it's a slow burn,' she said. The JLL research follows separate observations from commercial real estate firm Fitzroys, who have observed plunging vacancy rates for retail venues in Melbourne's CBD. In 2023 there was a 14.1 per cent vacancy rate, by earlier this year it was just 6.1 per cent. But along Swanston St it has dropped to just 2.6 per cent, lower than even the Parliament end of Collins St — regarded as the city's premier commercial precinct. Most of it has been driven by eateries. Fitzroy's director James Lockwood said the shift was coming off the back of anticipation of the Metro Tunnel works being completed and an increase in commuter traffic. Late last year it was also revealed that signiciant leases have been signed within the stations by operators including IGA, People's Coffee, Sushi Sushi, KFC, Starbucks and 7-Eleven.
ABC News
20-05-2025
- Business
- ABC News
Victoria's budget forecasts record debt levels with public service jobs on chopping block
Victoria's debt is set to balloon to record levels as the state government battles to rein in spending, even as the axe looms over thousands of public sector jobs. Treasurer Jaclyn Symes's first state budget reveals net debt will reach $167.6 billion this year, before growing to an eye-watering $194 billion in three years' time. It will see the state pay $7.6 billion in interest in 2025-26 — or $20.7 million a day. Those repayments will jump to $10.6 billion annually or $28.9 million a day in three years' time. The budget includes a $600 million surplus, helped along by the controversial Emergency Services and Volunteers Fund, which will tip $1.6 billion into government coffers in the coming financial year. Under pressure to rein in spending, the treasurer has promised to save $3.3 billion over the forward estimates by "stripping back inefficiency" in the public service sector. The government has provided little detail on how this will be done or the "several thousand" jobs that will be axed, instead waiting for a review from top bureaucrat Helen Silver due in June. "What I found compelling in Helen's additional work is that Victoria had 500 entities and 3,400 public boards," Ms Symes said. "You can't tell me there's not some fat in that." Ms Symes today confirmed about 1,200 full-time equivalent job losses had been "built in" to the multi-billion-dollar savings, including some through natural attrition, as workers moved around or left the public service and weren't replaced. But she also acknowledged more job losses would come. "We have flagged up to around 3,000 but I will have more to say after [Ms Silver's] final report," the treasurer said. "The reason is not a lack of transparency, the reason is because this will impact individuals and we need to go through the proper processes." The budget papers show net debt as a proportion of Gross State Product — a figure representing the size of the state's economy — will be 25.1 per cent in 2025-26 before peaking at 25.2 per cent the following year. This will remain virtually unchanged across the forward estimates, despite the government promising to tackle the debt crisis. "Reducing net debt as a proportion of Gross State Production is a measure we're focused on," Ms Symes said. "I'm looking forward to committing to that — it is my public commitment. I will make sure we're on track with that." Contributing to the debt are cost blow-outs to the state's major projects, now totalling $3.3 billion. This includes an already-declared $827 million blowout to the Metro Tunnel project. Analysis of 518 budget-funded projects showed a 1.9 per cent increase in costs since the 2024-2025 state budget, while 128 major projects (projects with a total expected investment above $100 million) showed a 2 per cent increase in costs. Project delays were attributed to supply chain issues constraining labour, equipment and materials. Despite the uncertainty around the looming service cuts, Ms Symes's budget has thrown more money at key sectors including health and crime prevention. The budget allocated $11.1 billion to Victoria's health system, including$634 million to open nine new or redeveloped hospitals such as Footscray Hospital and Frankston Hospital. $497 million will also go towards improving mental health services, while $167 million was committed towards reducing ambulance wait times. RMIT University professor David Hayward has labelled it "another generous budget" at a time when the government was expected to be "more prudent". "The operating surplus is wafer-thin, and there's a surprisingly large amount of new initiatives right across the board — and many of them are quite small," Dr Hayward said. "The big, big chunk is in health, and the question is how can they change their minds when last year we were told the health services were inefficient and they need to get their act together." The government has set aside $1.6 billion to prevent crime, including $727 million to implement the state's new bail reforms and $176 million to reduce repeat offending by expanding rehabilitation and support services. $92 million will also go towards police recruitment and community safety organisations like Crime Stoppers and Neighbourhood Watch. The money flowing into government coffers through taxes will continue to rise to $41.7 billion in the coming financial year. Payroll tax and stamp duty are the largest contributors, although the Emergency Services and Volunteers Fund (ESVF) will tip in $1.6 billion — up from $1 billion after being supercharged by the government. The tax will be charged alongside council rates, and replaces the cheaper fire services property levy, raising funds for fire services, the State Emergency Service, triple-0 and the state control centre. All landholders in Victoria will pay more for the ESVF, but farmers in particular are facing increases of tens of thousands of dollars. This morning, thousands of farmers and CFA volunteers protested the levy on the steps of Victorian parliament. They said the government's new tax was "totally unfair" and would send communities to the wall. About $6.4 billion will be raised through land tax, while vehicle registration fees will also contribute $2.4 billion in the next financial year. Taxes on electronic gaming machines will also raise more than $1.4 billion. Victoria's population growth is also projected to slow down and stabilise. In the 2023-24 financial year, the population grew 2.4 per cent, but is now forecast to grow 1.7 per cent a year for the next four years.
ABC News
20-05-2025
- Business
- ABC News
Who are the winners and losers in Victoria's 2025 state budget?
With a focus on the cost of living, families are among the biggest winners in this year's Victorian budget. The budget has been described as "responsible" by the treasurer, and promises a $600 million surplus for the first time since the pandemic. The government is still grappling with rising debt, and plans to axe thousands of public service jobs. While the list of winners looks long, with the exception of health, many of the investments are expanding on existing programs or are relatively small initiatives. So, who are the winners and losers? Winner: Health This year's budget features an $11.1 billion investment in Victoria's healthcare system. The government says that's "almost a third of this year's expenditure". It includes $634 million for new hospitals across Frankston, Footscray, Craigieburn, Cranbourne and Phillip Island. The roles of pharmacists will also expand in a bid to help Victorians avoid costly GP appointments. They'll be able to treat more conditions and consultations will be free. Winner: Families With a focus on cost of living, families are among the big winners of this year's budget. Families with young children will save around $2,600 per child with free kinder offered for every three and four year old. It's an extension of the already existing Free Kinder program. Winner: Public transport users Victorians under the age of 18 will be offered free public transport anywhere in the state, throughout the entire year. That's expected to save families upwards of $700 per child each year. The government is also expanding its free public transport program for seniors on weekends. Loser: Taxpayers Net debt is forecast to grow to a record $194 billion in three years' time, up from $167.6 billion this year. The government says it's not introducing any new taxes in this latest budget but last week a new emergency services levy passed through parliament which is expected to bring in $600 million. The controversial levy will be charged alongside council rates and will raise funds for fire services, the State Emergency Service, triple-0 and the State Control Centre. Victoria will pay $7.6 billion in interest in 2025-26 which is set to grow to more than $10 billion in three years. Loser: Public servants The government has flagged thousands of public servant jobs will be cut as it looks to save $3.3 billion. The exact number of jobs to go and which ones they will be have not been identified. Instead, the government says it will wait for the Silver review — a report looking into the public service sector which is due to be handed down by the end of next month. No change: Infrastructure Two major projects are expected to be complete this year. Those are the West Gate Tunnel and the Metro Tunnel projects. But infrastructure projects across the board have blown out by $3.3 billion. That includes a previously reported blowout of $827 million for the Metro Tunnel project. According to analysis, 518 budget-funded projects show a 1.9 per cent increase in costs since last year's budget. Winner: Community safety The government says it's focusing on community safety, investing $1.6 billion in crime prevention. Of that, $727 million will go towards implementing the state's bail reform measures, while $176 million will be put aside to expand rehabilitation and support services to reduce reoffending. With pressure mounting on the government to provide more support to Victoria Police, it's investing $92 million in police recruitment. Winner: Home owners The government is committed to building 800,000 new homes by 2034. Last year the government announced a temporary slashing of stamp duty for new apartments, units and townhouses, when they are purchased off-the-plan. That concession will be expanded for an additional year until October 2026. Credits:
The Guardian
12-05-2025
- Business
- The Guardian
What Victoria's $5bn ‘public transport blitz' means for passengers
With just a week to go until the Victorian budget is handed down, there had been no early announcements – until Monday, when the premier unveiled $5bn for a sweeping 'public transport blitz'. Jacinta Allan was joined by her deputy, Ben Carroll, the transport infrastructure minister, Gabrielle Williams, and eight Labor MPs from Melbourne's western and northern suburbs to outline the funding, which is split into three areas: $727m to 'switch on' the Metro Tunnel $98.7m to boost service frequency across seven metropolitan and regional train lines $4bn to begin major works at Sunshine station 'We are focused on what matters most to working people and families, and that includes cutting congestion, helping workers to get to work more quickly and home more quickly as well,' Allan told reporters. Here's what we know so far about the announcement. Sign up for Guardian Australia's breaking news email The centrepiece of the government's announcement is the $4bn to transform Sunshine station into a 'superhub', which Allan described as the first step towards delivering a long-awaited rail link to Melbourne airport. The 2025-26 budget will allocate $4bn to redevelop the station into a key interchange connecting the metropolitan and regional train lines, as well as the future airport line. The $4bn includes $2bn worth of funding previously set aside for the Melbourne airport rail project, which has had a stop-start history. 'Sunshine station works are such a vital part of the airport rail project,' Allan said on Monday. 'Because it untangles the network, it also paves the way for future works to be able to deliver more services for the western suburbs.' The $727m for Metro Tunnel is new funding in the budget, in addition to the Metro Tunnel's already blown-out $14bn price tag, ahead of its opening later this year. Consisting of two 9km train tunnels under the CBD and five underground stations, the Metro Tunnel will connect the Sunbury line, which runs through Melbourne's western suburbs, with the Cranbourne and Pakenham lines in the city's south-east, taking the pressure off the City Loop. Allan said the funding would allow for turn-up-and-go services for the Sunbury, Cranbourne and Pakenham lines. She denied it was a further cost overrun on the project and noted infrastructure funding is separate to service funding. There's also $98.7m to improve train frequency across several other metropolitan and regional lines. This includes increasing peak services on the Werribee line, with two additional trains per hour during the morning and afternoon. On the Sandringham line, services will run every 10 minutes between peak periods, up from four to six trains per hour. The Craigieburn and Upfield lines will get more frequent off-peak services, with trains running at least every 20 minutes, including late at night and on weekends. The Gippsland line will get additional weekday inter-peak services on the Traralgon line, running every 40 minutes following the completion of the line upgrades later this year. Meanwhile, the Bendigo line will see longer trains on more weekend services – to account for the surge in commuters after the government capped the price of V/Line tickets. The Seymour line will also get an additional service during both the morning and afternoon peak periods. Williams said the new services would be added to the network in stages – some before Metro Tunnel opens, some to coincide with the opening and some after. 'We try to sequence changes to our timetables in a sensible way so that we're not compromising the reliability of our network,' she said. Williams said the entire metropolitan network's timetable will need to be adjusted to accommodate the new tunnel, affecting buses, trains and trams. 'It's a very, very complicated endeavour and one that is well under way.'
