Article from Northcroft Hong Kong office
With international borders open again, airports across the globe are offering prestige brands the opportunity to take advantage of the resurgence in travel. Northcroft is playing a vital role in managing the entire store fitout process for our luxury goods clients.
Earlier this year, Sydney Airport was purchased by a consortium of retail superannuation funds. Known as the Sydney Aviation Alliance, the new owners are now responsible for Australia’s most important international gateway.
Pre-COVID, 44 million passengers passed through Sydney airport each year, generating over $A42 billion in economic activity. While the airport is not yet seeing those pre-pandemic numbers, pent-up demand for travel is seeing a surge in travellers – especially during school holidays periods. This demand for travel is happening in airports across the world.
Luxury retailers thinking ahead
While Australia’s borders were closed, plans to refurbish Sydney Airport began. The refurbishment includes establishing a new, world-class shopping and dining experience across the Airport’s 3 Terminals.
In T1, Sydney Airport’s International Terminal, a key component of the refurbishment is to attract some of the world’s most luxurious brands. To do this, the Airport increased the Terminal’s roof height by almost 10m to create a light, bright area with stunning airfield views.
At Sydney Airport 14 global brands will be opening their doors throughout 2022. Once completed, Sydney Airport is claiming “international travellers will be greeted with the most comprehensive collection of luxury travel anywhere in Australia and New Zealand”.
This revitalisation of airport terminals isn’t limited to Sydney Airport. Other airports are taking advantage of the re-awakening of international travel including Changi Airport in Singapore.
Northcroft – global partners with local knowledge
As a global consultancy, Northcroft is partnering with many of its luxury retail clients such as Louis Vuitton, Dior, Celine, Cartier, Tiffany and Prada to take advantage of the opportunities these international airport refurbishments are providing.
With longstanding, trusted relationships, Northcroft is often the first service provider our clients engage when planning a new store location. For the airport stores, clients often ask us to take care of all aspects of procurement and fitout. This includes:
- Preparing construction budgets for lease negotiation
- Appointments of design consultants
- Pre-qualification check on tenderers
- Cost comparison and value engineering
- Establishing the scope of works for each store fitout
- Preparing and evaluating all tenders
- Tender interview, negotiation, and clarification with tenderers
- Award of contract and binding of contract documents
- Cost management and project supervision
Clients know they can rely on Northcroft because of our local and international knowledge and expertise, coupled with our consistent, independent and impartial professional approach. If you are looking for quantity surveyors with local knowledge and wide-ranging, international experience, get in touch with Northcroft.
