Presented by Gamuda Land
Updated 10 May 2023, 11:24am
First published 8 May 2023, 9:21am
Lifestyle living is core to a new development in this highly prized inner-Melbourne neighbourhood.
The Canopy on Normanby is a new development attracting attention not just for its sustainable design but is attracting investor interest as Sydney buyers eye Melbourne stock.
Interest from NSW investors is increasing as the harbour city becomes increasingly cost-prohibitive, according to data.
Michael Lang, Director at Castran Gilbert says that Melbourne is presenting an attractive purchasing opportunity.
“Enquiries have surged by 18.6% for apartments within a 2-3km radius of Melbourne’s CBD since the start of 2023, largely driven by affordability.
He adds that Melbourne's high-quality education offerings and abundant marquee sporting events make it a viable alternative for Sydney buyers.
Lang stated that “with a large number of investors being priced out of the strong Sydney market, locations like Melbourne are becoming increasingly appealing investment opportunities."
Recent PropTrack data also shows a 28% increase in searches from NSW to Victoria, comparing March 2023 and March 2022, with Melbourne being the most popular region.
But it's not only sheer numbers that make a certain development attractive, according to PropTrack's recent Energy Efficient Housing Report energy efficiency is becoming increasingly top of mind for property seekers.
More than half (56%) of respondents believe energy efficiency is extremely important – a 17% increase compared to last year’s survey.
This consumer demand is reflected in the properties on offer at The Canopy on Normanby, which goes beyond the basics, reflected in its 6-Star Green Star target and 7.5 Star average NatHERS rating, explains Jarrod Tai, General Manager, Gamuda Land Australia.
Harness natural light throughout the whole day thanks to the considered craftsmanship of each apartment.
"Buyers want something that doesn't just tick the boxes — they want something that pushes the sustainability agenda forward," Tai says.
The project features many Melbourne firsts for sustainable residential design, like the first Miyawaki Forest within an urban development, a Japanese method of restoring biodiversity through accelerated forestation methods. The self-sustaining forest helps lower temperatures in concrete heat islands, reduce air and noise pollution, and attract local birds and insects.
The project also features the first-ever in-built ground source heat pump in a residential setting, making it unlike anything Melbourne has seen before.
With power prices rising and climate change regularly at the top of the agenda, sustainable housing is becoming an increasingly important factor for buyers, explains Anne Flaherty, economist at realestate.com.au.
"Data shows there's demand for sustainable real estate products and we know that people are considering the environmental impact of the physical spaces much more than they were in the past,” Flaherty says.
"It's a trend we’re seeing across Australia and it's something people are willing to pay a premium for.”
At The Canopy, all 213 apartments are carefully planned to capture natural light, with some of the building features including solar, water harvesting, an underground energy storing system, bike storage, communal vegetable gardens and electric vehicle charging stations.
Tai says The Canopy’s biophilic design “gives people a sense of connection to the natural world", while also reducing its impact on the environment and ongoing building costs.
Enjoy seamless indoor – outdoor living that takes advantage of natural light the whole day through.
"A big goal of this project is to design sustainability measures that are beneficial for the environment, but that also brings value for the occupants," he shares.
"All of the sustainability initiatives create savings that contribute to lower owners’ corporation fees, and hot water bills."
The lobby and corridors will be dripping in greenery, while terraces throughout the building will feature gardens.
The greenery extends all the way to the rooftop viewing deck, which has a lush garden and resident amenities, such as a Japanese-inspired onsen spa.
Adjacent to the architecturally designed complex, there is a proposed 3,000 sqm public park, also developed by Gamuda Land, with Johnson Street being closed off and utilised for the park space.
Planted with native flora and fauna the park pays homage to the wild wetlands that once covered the area. It will include spaces for sitting, a barbecue setup and grassy open areas for residents to enjoy.
While sustainability is important, location still tops the list for buyers on the hunt for a new home.
Luckily, some inner-city suburbs deliver the best of both worlds. South Melbourne appeals to buyers who want a sense of class and culture.
Sit amidst lush native greenery while you take in views of Port Phillip Bay.
South Melbourne is a beautiful suburb with a mix of old and new residences sprinkled with green pockets.
It has a wealth of cafes, eateries, and art galleries to explore — mostly found along the bustling Clarendon Street. There’s also the buzzing South Melbourne markets and the new South Melbourne Primary School.
What's more, it's got a bright future ahead.
Located within the Fishermans Bend urban renewal zone — a 480-hectare area designated by the state government for sustainable development — The Canopy will be surrounded by new office, retail, dining, education facilities, parks and much more.
At The Canopy, different apartment configurations throughout the complex will appeal to a wide variety of like-minded buyers, laying the foundations for a like-minded tight-knit community.
Enjoy premium appliances, finishes and details at The Canopy on Normanby.
These range from one-bedroom to three-bedroom residences priced from $487,000.
A development of this standard in such a highly prized location will likely turn plenty of heads, Flaherty says.
"Data shows that inner-city buyers still want that connection to nature, we know there's a big demand for green spaces and there's a good demand for decently priced property —something like this is definitely going to stand out."
Enquire now
Located in South Melbourne, close to public transport, schools and future infastructure now is the time to find out more about the opportunities on offer at The Canopy on Normanby.
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Gamuda Land was established in 1995 and is part of Gamuda Berhad – a leading international engineering, construction and infrastructure group. The multi award-winning developer has built over 52,000 homes across Australia, UK, Malaysia, Vietnam & Singapore.
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