Sydney is leading the country in infrastructure investment with close to $75 billion in the pipeline. The significant investment in transport infrastructure will enable Sydney to move from a monocentric city towards a polycentric city. This will improve amenity of undersupplied areas of Sydney and reduce dependence on the eastern part of the city for employment, accommodation and entertainment. What are the implications on property value? In this report, we explore the concept of value capture using empirical results across a range of case studies.