377-381 The Boulevard, Ivanhoe East, is set to test the suburb’s price record — and comes with a “Crown Casino”-style basement entertainment zone.
A sprawling Ivanhoe East mansion originally home to the man who built the MCG’s southern stand is poised to smash the suburb’s price record after a multimillion-dollar renovation.
The house now showcases a “Crown Casino”-style basement entertainment zone that’s decked out with backlit quartz walls as well as a tennis court and guesthouse at the rear of the block.
And with the $13.5m-$14.85m price tag effectively just reflecting replacement value, the agent handling the sale believes it’s a case of good value for money.
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Woodards’ Anthony Lapadula said since selling the 377-381 The Boulevard home to the current owners about 10 years ago it had undergone an extraordinary renovation that had overhauled close to 90 per cent of the residence.
“They kept the facade, and the pool was there, but the renovation and the extension and the tennis court are all new,” Mr Lapadula said.
The impressive mansion is on one of the Boulevard’s biggest plots of land.
The tennis court is one of the more recent additions to the home, and a major benefit during the Australian Open.
One of the most remarkable updates is what he’s dubbed the “Crown Casino” style basement that includes a cigar room, wine cellar, home gym and a chef’s kitchen.
There’s also carparking for seven vehicles.
“That’s why it’s $13m,” Mr Lapadula said.
“It’s actually good value. If I picked this up and put it down in Kew it’s a $16m or more home.
“But if we get that price or close, that will be a new record.”
The basement entertainment zone includes a bar area, wine cellar and a cigar room.
There’s also a home gym, to help justify spending the evening with a good bottle of wine.
The six-bedroom floorplan also includes a multiple living zones, a bathroom for every day of the week, a home theatre that opens out to an outdoor entertainment space with its own kitchen and pizza oven.
The triple block, which spans 3500sq m, also includes an infinity-edge pool with a spa and water feature, extensive manicured gardens, and a number of outdoor terraces.
While he was expecting potential buyers to range from expats to local families looking for a trophy home, the agent said he was also expecting demand from families looking to host multiple generations across the home’s expansive, about 1850sq m floorplan.
A home office with a spectacular tree-top view provides an enviable work from home option.
Entertaining outside is a breeze with an extra kitchen.
“It’s literally a hotel, you go there and you don’t have to leave,” Mr Lapadula said.
“Something of this magnitude and size, there’s nothing else out there like it.”
The main residence was built for Earnest Alfred Watts, a 1920s-1930s-era commercial builder whose major projects included the Melbourne store for Debenhams, a Bourke St store for G. J. Coles, the Chevron Hotel and even the southern stand at the MCG.
It is located on the quiet side of the Boulevard, away from the annual Christmas lights display.
A secondary residence at the rear of the home is currently set up as a games room.
A commercial kitchen has the home ready to entertain a serious crowd.
Corelogic records show Ivanhoe East’s top sale to date is a $11,540,620 development sale in 2017.
The top price for a house was for a York Ave address that snared $6.95m late in 2024.
The property is listed for sale via private treaty in conjunction with OBrien Real Estate’s Julie Zucha.
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