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Rail line a real asset: agent

08 Mar, 2010 09:52 AM

A NEW rail line in Monash would be a "huge boost" to residential and commercial properties in the municipality, a Clayton real estate agent has said.

Colliers International industrial associate Geoff Fookes said a rail line to Rowville, with stations potentially located at Waverley Park and Mulgrave, would be of great significance.

"It will be a huge boost to the area, and relieve congestion on the road.

"It's hard to quantify, but if you use the EastLink experience, there's always been an increase in values with people clamouring for access points."

Mr Fookes said that when new developments were established, people took into account infrastructure such as public transport.

"When you go to relocate, people look at where their staff live, how close they will be to work, and how staff will get there."

He said established areas such as Mulgrave and Notting Hill remained strong due to access to the Monash Freeway. However, a rail line would make it easier for workers, particularly office staff, to commute to work.

"Any improvements will certainly be beneficial to the area."

Mr Fookes' comments come after Knox councillor Mick Van de Vreede said the rail line would be integral to his municipality's economic future.

"Economically, enhanced transport options would make Knox more accessible for employers and employees, thus increasing possible investment options.

"There would also be benefits for retail, such as at the Stud Park Shopping Centre, as Stud Park is the last stop on the proposed railway line extension."

However, the parliamentary secretary for public transport Brian Tee accused Cr Van de Vreede of using the rail line as "an excuse for the failings of council".

"I'm happy to work with him with any gaps he's identified. But I don't think he should try to blame transport for any failings by the local council to attract business."

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Adding value:  Geoff Fookes says a rail line would be increase the value of properties in the City of Monash.   Picture: Mike Richards
Adding value: Geoff Fookes says a rail line would be increase the value of properties in the City of Monash. Picture: Mike Richards

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