Cut down Cordyline australis?

I am a qualified Horticulturist,

In my experience Yes you can cut it down and it will re-shoot.. As with all tree surgery there is a slight risk but with Cordyline australis the risk of failure is low. There is a very high chance you will get a lovely new multiple trunked plant.

You can cut it almost to ground level if you desire or most preferrably to around 50cm to a meter high. The plant should get new growth eventually. Remember don't be impatient.

regards
Gary