Sydney's New-Look Central Station Could Cost More Than $3 Billion
Leaked documents show the NSW Government's plans for Australia's busiest railway station.
It looks like the NSW Government's lofty plans for its Sydney Metro rail project won't come cheap, with the makeover of Central Station alone estimated to cost a whopping $3 billion.
As reported by The Sydney Morning Herald, the information's been revealed in leaked documents from Transport for NSW, suggesting that even increased revenue from the station's proposed retail precinct, five-star boutique hotel and high-rise offices won't ever be enough to cover the costs of the ambitious project.
The government's expected to drop an estimated $750 million just on incorporating the city's new train line into the station, which is Australia's busiest and clocks in at a huge 20 hectares.
The leaked documents show other extensive plans for the project include a $120 million hotel development to transform the main terminal's upper levels, a colonnade and retail arcade on Pitt Street, three commercial towers in the space currently home to YHA's Railway Square hostel and a plaza on Eddy Avenue.
While the plans would take place over the next 20 years, a Transport for NSW spokeswoman confirmed with SMH that nothing would be given the go-ahead until after extensive public consultation and approval. "Any decision to proceed with development at the station will have to be subject to rigorous economic appraisal and Cabinet consideration," she said.
Via The Sydney Morning Herald.
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