A bold $350-million plan to reinvigorate the northern end of Cronulla ’s CBD would transform a 5225sq m site into a mixed-use residential and retail precinct.
Sammut Group acquired the Northern Gateway properties between 3 and 23 Kingsway at Cronulla with venture capital partner Alceon Group.
Plans for initial demolition works plus a three-storey basement car park and two-storey retail and commercial podium have been lodged with the Sutherland Shire Council this month.
Ultimately the site would include residential, commercial and retail mixed-use developments, including 112 one-, two- and three-bedroom apartments, 885sq m of commercial space, restaurants, shops and a flagship Harris Farm Markets store.
It supersedes plans for a 21-storey boutique hotel mooted for the site in 2018.
Sammut Group director Allen Sammut said the block of land between Croydon Street and Abel Place was 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,” Sammut said.
“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.”
Harris Farm Markets co-chief executive Luke Harris said they were “thrilled” to launch their flagship store as part of the development.
“Harris Farm Markets has been looking for an appropriate location in the shire for many years… ,” he said.
“The store would be the largest Harris Farm store in Sydney and will introduce new food concepts we haven’t explored before.”
Sammut Group has an extensive portfolio and impressive reputation in the New South Wales market bolstered by the success of developments including Banc, Loft, Breeze and Drift in Cronulla and its surrounds.
Sammut Group is also awaiting approval for a development application for a commercial and hospitality precinct, PARC, in conjunction with Alceon Group, opposite Cronulla’s train station.
Article Source: www.theurbandeveloper.com
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