The Sammut Group has lodged a plan for a $350 million revitalisation of Cronulla’s CBD
A vision to reinvigorate Cronulla’s CBD is planned with a development application lodged for a $350 million mixed-use urban renewal project.
The proposal by Sydney’s Sammut Group seeks to transform an entire block opposite the northern end of Cronulla mall, breathing new life into the retail/commercial hub.
Sammut Group’s development application follows its successful amalgamation of all the properties comprising a mixture of old retail and commercial premises, which the Sutherland Shire Council calls the Northern Gateway site.
Strategically positioned along the main entryway to Cronulla beach, it spans a total of 5225 square metres — between Croydon Street and Abel Place — and is one of the largest commercial sites in the southern Sydney beachside suburb.
“This is a game-changing development that will provide the catalyst for the future revitalisation and growth of the Cronulla CBD,” said Sammut Group director Allen Sammut.
“It’s a pivotal project for the area, particularly the many businesses in Cronulla that have been struggling in recent years.
“We’re extremely excited and eager to see our vision for this iconic gateway site come to life, ushering in a new era of optimism and opportunity for Cronulla.”
Mr Sammut said the development would bring a modern and sophisticated approach to urban coastal design, lifestyle and amenity to Cronulla’s CBD.
To be called Vue, it will comprise residential, commercial and retail components — including 112 one, two and three-bedroom apartments, 885sq m of commercial space, speciality shops, restaurants and full-line major supermarket brand Harris Farm Markets, set to become their flagship store.
An additional three carefully selected speciality stores are set to join the artisanal, gourmet grocer.
“We’re thrilled to be a part of this landmark development to launch a flagship store and is a first for the shire,” said Luke Harris, Co-CEO of Harris Farm Markets.
“Harris Farm Markets has been looking for an appropriate location in the shire for many years and now believe in a partnership with Sammut Group and that Vue will be an iconic project not only for the shire but nationally.
“The store would be the largest Harris Farm store in Sydney and will introduce new food concepts we haven’t explored before.”
Sammut Group is a renowned and award-winning developer of high-end beachfront residential as well as commercial projects across Australia.
Sammut Group have an extensive portfolio and impressive reputation in the New South Wales market bolstered by the success of upmarket developments such as Banc, Loft, Breeze and Drift in Cronulla and its surrounds.
In a record-breaking deal, the group recently secured a $10.25 million off-the-plan sale — the highest price ever paid for an apartment in Sutherland Shire — for a 300sqm-plus sub-penthouse in its luxury Ozone development in Cronulla.
Sammut Group has teamed with its venture capital partner Alceon Group for the acquisition of the Northern Gateway properties in the Cronulla CBD, to become known as VUE.
Together, they also recently unveiled plans for a $200 million, 6-star luxury apartment tower in Surfers Paradise — the first Gold Coast project for Sammut Group.
A development application has been lodged with Gold Coast City Council for the landmark 35-level uber-luxury beachfront residential project, which includes the most spectacular penthouses ever seen on the Gold Coast spanning across two full levels of living area with a private rooftop pool/spa, sauna and entertainment area.
Also currently awaiting DA approval is PARC in conjunction with Alceon Group, a boutique commercial and hospitality precinct offering commercial office space, an innovative co-working structure and two-floor hospitality venue in the epicentre of Cronulla, directly opposite Cronulla’s train station and linking the southern end of the mall to the proposed northern end development.
Established as Sammut Constructions by Paul Sammut over 50 years ago, the family-owned business is now headed by sons Allen and John, and grandson Julian Sammut, who have evolved the business into ‘Sammut Group’, being one of the most reputable luxury developers on the east coast, having won over 40 major industry awards for their projects.
Alceon Group is a Sydney-based investment group and is one of Australia’s largest non-bank providers of development finance, having invested over $4 billion across real estate, private equity/credit, and listed equities investment strategies.
Source: Media Hunt Communications