Apartment
Freehold
March 2025
>126 sqm
1
3
2
1
Located approximately 1.2km from the Melbourne Central Business District, The Canopy on Normanby is located in an up-and-coming precinct within the Fishermans Bend, Australia’s largest urban renewal project covering approximately 480 hectares in the heart of Melbourne.
The University of Melbourne has purchased a 7.2-hectare site in the heart of the Fishermans Bend Employment Precinct to build a world-class engineering and design campus for large, experimental research, hands-on learning and collaboration with industry. Stage 1 of the new campus is slated to open in 2026, and The Canopy is poised to be highly sought-after by both students and working professionals alike, with direct access to the new university campus and nearby sectors via private and public transport.
A 20-storey mixed-use development consisting of a total of 213 apartments, with commercial spaces, A-grade retail and food and beverage options occupying the street level, ready to draw people within a new, growing and vibrant community.
The project will see the creation of a 3,000 sqm public park adjacent to Johnson Street and featuring a biophilic spine throughout the development with dedicated areas for work and recreation amongst green spaces. With the Johnson Street Park, The Canopy is pioneering the Miyawaki Forest for Melbourne, playing an important role in supporting the city’s biodiversity restoration goals and improving the physical and mental wellbeing of local residents. Within 20 years, the forest will appear to be 100 years old and will be home to a wonderful array of birds and wildlife.
Cascading green walls will be a dominant feature throughout corridors, lobbies and terraces. A deck atop the development will feature lush green planting and resident amenities such as a Japanese-inspired onsen, urban farming beds and a meditation and wellness studio.
Connecting residences with nature, designing for natural light and cross-flow ventilation and minimised gas usage reduces the building’s overall carbon footprint and creates a low-carbon community with improved health, liveability and lifestyle benefits. Optimised energy efficiency also creates value for owners and investors, contributing to lower operational and maintenance costs and long-term financial savings. The Canopy also features the first Ground Source Heat Pump (GSHP) in a residential project in Melbourne, designed to reduce hot water bills and space heating. With sustainability at its heart, The Canopy is proud to have been accredited a 5-Star Green Star sustainability rating and 7.5 Average NatHERS rating.
Price range for 3-Bedroom Apartments:
Lowest: 406 (115.4 sqm internal + 21 sqm balcony) AUD$ 1,190,000
Highest: 1603 (129.9 sqm internal + 23.9 sqm balcony) AUD$ 1,776,000
All nationalities eligible to purchase.
Foreigners (persons without Australian citizenship or permanent residency) require approval from Foreign Investment Review Board (FIRB) for the purchase.
FIRB application fee of AUD$ 28,200 (if foreigner)
10% Deposit upon Sales Contract Exchange
Balance upon Settlement or Completion of Construction
Applicable government fees and duties (calculator here) – payable within 30 days of Settlement:
Stamp Duty of up to 5.5%
Foreign Purchaser Additional Duty 8% (if foreigner)
Legal Fees of approximately AUD$ 3,800