Sammut sees catalyst for revitalisation with Vue :
CRONULLA’S CBD could be in for a $350 million overhaul after Sammut Group lodged plans to transform an entire block opposite the Cronulla mall and at the entryway to the beach.
The development application follows Sydney based Sammut Group’s amalgamation of the properties on the 5,225 sqm site, comprising an old retail and commercial premises between Croydon Street and Abel Place, and which the Sutherland Shire Council calls the Northern Gateway site.
To be called Vue, the mixed use urban renewal project will comprise residential, commercial and retail components — including 112 one, two and three-bedroom apartments, 885 sqm of commercial space, speciality shops, restaurants and full-line major supermarket brand Harris Farm Markets, set to become their flagship store.
An additional three speciality retailers will join the grocer. Sammut Group has teamed up with its venture capital partner Alceon Group for the acquisition of the Northern Gateway properties.
“This is a game-changing development that will provide the catalyst for the future revitalisation and growth of the Cronulla CBD,” Sammut Group director Allen Sammut said.
“It’s a pivotal project for the area, particularly the many businesses in Cronulla that have been struggling in recent years. Luke Harris, co-CEO of Harris Farm Markets, said the business h
ad been looking for an appropriate location in the shire for many years.
“The store would be the largest Harris Farm store in Sydney and will introduce new food concepts we haven’t explored before,” he said.
Also currently awaiting DA approval is PARC in conjunction with Alceon Group, a boutique commercial and hospitality precinct with commercial office space, co-working and two-floor hospitality venue in the epicentre of Cronulla, opposite the train station and linking the southern end of the mall to the proposed northern end development.
Sammut Group and Alceon recently unveiled plans for a $200 million, six-star luxury apartment tower in Surfers Paradise, which will be Sammut Group’s first project on the Gold Coast.
A development application has been lodged with Gold Coast City Council for the 35-level beachfront tower, which includes penthouses over two full levels. Sammut Group’s portfolio includes 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 300 sqm-plus sub-penthouse in its Ozone development in Cronulla.