North Sydney's Northpoint shopping mall reopens after $130 revamp
Cromwell Property Group has officially opened the doors at its $130 million Northpoint redevelopment, in the heart of North Sydney.
The integrated redevelopment has reached practical completion with its anchor tenant, Woolworths Metro and BWS, now open for business.
“Northpoint was designed to meet the retail, dining, and leisure needs of the ever-growing professional population in the area,” said Cromwell’s head of property, Bobby Binning.
“We are very excited to see our vision for the north shore realised.”
On the lower level, fitouts are nearing completion for Westpac and a suite of speciality retailers including Joe & The Juice, Terry White Chemmart, OPSM and Avis.
The upper retail level is dedicated to dining and leisure through an “eat street” concept.
A rooftop bar is pending final council approval and the 187-room North Sydney Vibe Hotel will welcome guests from April 3.
Northpoint faces potential competition from the Greenwood project just across the road but Cromwell is confident that with low vacancy rates in North Sydney, coupled with an increase in demand, the market will accommodate both Greenwood and Northpoint.
Commercial leases have also been in high-demand with the Northpoint Commercial Tower which is edging closer to capacity.
Cromwell is also unfazed by the perception that North Sydney can fall quiet on the weekends, a problem that has plagued residential and commercial developers.
In Cromwell’s view the Northpoint development fills a void, as historically the weekend spend from North Sydney has leaked into surrounding areas because there have not been the right places to go.
“In the last few years, the north shore precinct has gone through an extended period of development and rejuvenation,” said Mr Binning.
“The population of North Sydney suburb is set to boom, with an increase of 27 per cent by 2036 predicted.”
With Su-Lin Tan
