Is there a North point arrow that I can set?
Yes, there’s an extension in the Extension Warehouse described this way:
Provides tools for you to set and display the solar north angle.
Many thanks. Easy when you know how!. Works well and now I know more about Extensions.
Happy New Year,
With reference to your topic title: “Setting a compass north point”
Bear in mind direction in SketchUp is True (geographic) direction not Compass (magnetic) direction.
In most locations the two differ. How much depends upon your location.
Magnetic variation >20° is not uncommon.