Luxury focus as Sammut, Alceon plan $750m of developments
A joint venture with Alceon Group has supercharged the pipeline of Sydney developer Sammut Group, including a $350 million plan to transform the Cronulla CBD in the city’s southern beach suburbs.
The mixed-used urban renewal project, known as Vue, will cover more than 5000 square metres after Sammut Group was able to pull off a complex site aggregation that cost more than $100 million.
Sammut Group director Allen Sammut said negotiations took a year, encompassing 24 stakeholders across nine properties .
$350m Cronulla project gets tick of approval
Busy developer Sammut Group has added another project to its burgeoning pipeline after securing approval for a $350 million mixed-use development at the northern end of Cronulla Plaza.
The nine-storey development will be the first major urban renewal project in the southern coastal Sydney suburb since Northies Hotel was redeveloped into the Sur Mer residential complex more than 20 years ago.
It will be built on a 5225-square-metre amalgamated site at 3-23 Kingsway, opposite the entrance to the open-air shopping arcade that runs down Cronulla Street.
Known as Vue, the development will comprise four levels of basement parking, a two-storey podium housing ground-floor shops and first-floor offices and two residential buildings above offering 112 one, two and three-bedroom apartments.
