Central is one of the train stations which could be handed over to the private sector for redevelopment. Picture: John Grainger
Source: The Daily Telegraph
The state government is considering a radical proposal to "bundle"
five CBD train stations and release them as a series of public-private
partnerships for an overhaul.
Commuters would benefit from
redesigned and modern stations, attractive shopping precincts and
affordable apartments, Infrastructure Partnerships Australia (IPA) said.
The overhaul would include the five stations on the City Circle Loop - Redfern, Central, Town Hall, Martin Place and Circular Quay.
IPA,
the peak lobby group representing the infrastructure private sector,
has submitted the radical plan to the Legislative Assembly committee's
inquiry into the utilisation of rail corridors.
The
five train, bus and ferry interchanges present an "opportunity for joint
development" because they have high passenger frequency and are in key
locations, IPA said.
"This high level of patronage means the
station concourse, airspace and adjacent land - if planned for, designed
and delivered in a suitable way - is a potentially valuable commercial
real estate holding for the government," the report states.
"Many
of these stations are in a poor condition, with a sub-optimal legacy
design and have not experienced wholesale renovation for many decades."
The
private sector is in a position to invest in the proposal, IPA said.
"The renovation of these five stations could be bundled as public-
private partnerships, in which the private sector would finance train
station redesign and renovation.
"A joint development of the
high-traffic CBD stations under this model would allow for the
redevelopment of Sydney's legacy CBD rail stations at substantially
lower cost to the taxpayer while simultaneously delivering world-class
facilities to rail commuters.
"The redevelopment would also deliver high-value retail real estate in the CBD."
It
was time to replace the "crappy old cafes, bottle shops and newsagents"
with quality retail precincts, IPA chief executive Brendan Lyon said.
"When
you think about global cities and their transport interchanges, they
have done a lot more with their major CBD transport hubs than Sydney
has."
Transport Minister Gladys Berejiklian said the proposal would be considered.
"The
masterplan is looking at capacity and demand issues around the whole of
the transport network, including the CBD railway lines and stations,"
Ms Berejiklian said.
Source: www.dailytelegraph.com.au/news/sydney-nsw/five-grotty-train-stations-set-for-sale-to-the-private-sector/story-fnb5f12x-1226294086724
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