The Elwood home of LUME Melbourne founder Bruce Peterson and his wife Kelly is back on the market, two years after they bought it.
The LUME Melbourne founders Bruce Peterson and wife Karyn are selling their Elwood home, just two years after breaking the local record by purchasing it.
Records show the Petersons bought the incredible three-story home for $17.05 million after it was on the market for $15 to $16.5 million.
It’s currently back on the market for $17.5 million – $18 million, which would break their own record.
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But given that the original purchase comes with a stamp duty charge of over $1 million, even at the top end of the range they are likely to walk away for less than their original outlay.
Mr Peterson is known as the founder of Grande Experiences, which created the LUME multi-sensory art experience that opened in Melbourne in 2021, as well as event spaces around the art of Leonardo da Vinci, Vincent van Gogh and Claude Monet.
However, he started as a physical education teacher and has a degree in educational science.
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Bruce and Karyn Peterson in the LUME Melbourne event space.
The original house has hardly changed, but the extension reveals an incredibly new aspect of the property.
The basement garage offers space to comfortably park eight cars.
Prior to their purchase, the property was extensively renovated and extended with an overhaul designed by Hayball Architects and carried out by construction company Hickory Group – with original owners Helen and George Argyou, who founded the builder with his brother Michael.
As you approach the facade of the Edwardian house, it looks much the same as it has for decades, although the former owners have added fingerprints to it.
But get to where the driveway slopes down to a basement garage and the impressive extension begins to take over.
Underground there is parking for eight people in the basement, as well as a games room with bar, storage space and a lift.
Swimming and an easy space to relax are offered in the impressive house.
The living areas of the home have design aspects that are strongly influenced by light and color.
The living area on the ground floor of the house is tailor-made for entertaining.
On the ground floor there are original rooms still full of character from the past, including a bedroom with en suite bathroom and bay window, while the extension is used to house a state-of-the-art open plan living room and kitchen.
With extensive concrete used for visual effect, as well as a long set of sliding doors that connect to an outdoor entertainment center, the entire space is designed for entertaining.
Upstairs there are four further bedrooms, with the master bedroom featuring a huge walk-in wardrobe as large as some of the house’s other bedrooms, a private garden, a balcony and an en suite bathroom.
Character details remain visible in the original part of the house.
The renovated bathrooms of the house are slightly different than you would expect from the facade.
The spacious master bedroom offers plenty of space to relax at the end of the day.
Outside, the 1,140 sqm block is home to a swimming pool and an array of mature gardens.
Andy Nasr of Marshall White has listed the home for sale with a description of “true dream home status.”
Submission of expressions of interest closes on March 10 at 5:00 PM.
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