The Leader

Clever commercial space beckons ‘generation flex’ to set new

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Just as house prices have surged in desirable outlying Sydney suburbs like Cronulla in the past two years, so too has demand for new offices soared as optimistic locals upgrade their business premises and investors move to secure rare new space, say local agents.

David Highland, CEO of Highland Property, says office space is so tightly held, that anything new to the market is snapped up almost instantly, and is setting new price records.

“Buyers are looking for new, sophisticated and well-located property and because there have been so few significant new developments lately, market demand is through the roof,” he said.

“The past two years have had a radical impact on how we work and how we use the traditional office environment. We’re also seeing businesses grapple with the ‘great resignation’ and looking for ways to retain and attract staff, and that means considering the entire ‘package’ – including the kind of work environment on offer,” he said.

One project setting new benchmarks for the Cronulla market is PARC, the latest development by Sammut Group, located at the edge of Monro Park in the heart of the popular beachside suburb.

All of PARC’s six floors of commercial space sold out within a week of being released via a direct VIP campaign at the end of 2021 after securing DA approval, commanding rates of in excess $16,000 per sqm, says Mr Highland.

With end-of-trip facilities designed specifically to capture the ‘board to boardroom’ market, PARC’s office space has been a hit with locals – both investors and owner-occupiers.

Sammut Group CEO Allen Sammut said PARC provided a chance to marry state-of-the-art facilities with the relaxed local lifestyle for which the area is renowned.

“This is the kind of modern workplace will offer the convenience of end-of-trip facilities that will see keen locals and visitors leave the surf, shower, change, stow their board and be back at their desks in no time,” he said.

The six-storey building, set to commence construction in mid 2022, will include five levels of commercial office space, with ground and level 1 dedicated to a multi-venue hospitality space, with cafes and restaurants to be operated by Feros Group.

Buyers include a mix of investors and local owner-operator businesses, with suites ranging in size from 200sqm to 700sqm.

“We’re seeing a high level of confidence from people who want to remain close to home and work, and don’t want to compromise on quality. They want the flexibility of working their way – from home, and from work close to home.

“Both investors and owner-occupiers understand there will always be demand for good space and the ultimate ‘lifestyle business’ location,” he said.

Mr Highland, whose team has managed the sales and marketing for the space said PARC’s strategic location at the edge of the Cronulla Mall between the Cronulla station and the beach, positioned it as the ultimate lifestyle workspace.

“PARC has achieved incredible response from buyers who have been waiting for high-quality, brand-new space of this kind. Many local businesses have been looking for the chance to upgrade or expand operations and PARC is the ideal location,” he said.

Sammut Group COO Julian Sammut said the chance to be located with other like-minded businesses that could lead to opportunities for collaboration had also been a drawcard.

“We’ve heard some great stories from people who have already made new connections with their future office neighbours and can see chances to work together – these are the kind of intangible extras that have become so much more valuable after the past two years,” he said.

“It’s exciting to see the variety of businesses coming into the building,” he said.

A multi-floor newly established co-working business set to launch later this year, would also occupy the building, he said.

“This is yet another great opportunity for local businesses to connect, collaborate and improve their work environments and add another level of vibrancy to Cronulla’s daytime economy,” he said.

The large floorplates also include outdoor spaces at each level, with the stepped nature of the building providing a visually interesting addition to the streetscape.

Designed by Innovate architecture and design studio, PARC is envisaged to take full advantage of its park-side location, with various suites at all levels taking in green views over the open space and the expansive canopies of two established fig trees.

The building’s elegant curves are complemented by wrap-around planter boxes for cascading landscaping that provides a rich, textured visual connection to the park.

About Sammut Group

An unwavering pursuit of excellence has been proudly passed down through the generations of the Sammut family. Over 40 years ago, Paul Sammut, a prolific builder who created more than 200 homes across NSW, was the founding pillar and the driving force behind the vision for the broader enterprise; creating properties, precincts and destinations which surpassed the norms and expectations of an emerging industry at the time.

From generously oversized apartments with expansive balconies and luxurious landscaping that elevates neighbourhood standards, Sammut Group has always defied expectations, and continues to apply this approach to the luxury landscape of today.

Building on their father’s legacy, brothers Allen and John Sammut established Sammut Developments in 1993, creating a full-service property development business. In 2021, the third generation joined the business, with Julian Sammut taking on the role of Chief Operating Officer.

Together the directors have evolved the company to become Sammut Group, diversifying their project portfolio and creating new standards of experiential luxury and legacy across major residential, commercial and hospitality-centred ventures.

Sammut Group has a circa $1B pipeline of upcoming work across multiple projects including high-end residential, commercial, hospitality and retail developments in New South Wales and Queensland.