The Elwood home of LUME Melbourne founder Bruce Peterson and wife Kelly is back on the market, two years after they bought it.
The founders of The LUME Melbourne, Bruce Peterson and wife Karyn, are selling their Elwood home barely two years after they broke the local record buying it.
Records show the Petersons bought the incredible three-storey home for $17.05m after it was listed for sale at $15m-$16.5m.
It is currently back on the market at $17.5m-$18m, which would break their own record.
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Lume founder Bruce Peterson buys Elwood’s record-breaking $17m mansion
Mr Peterson is known as the founder of Grande Experiences, which created the LUME multi-sensory art experience opened in Melbourne in 2021, as well as event spaces set around the art of Leonardo da Vinci, Vincent van Gogh and Claude Monet.
However he started out as a physical education teacher, and holds a degree in education.
“We’ve absolutely loved our time in Elwood,” Mr Peterson said.
“It’s a truly one-of-a-kine home — beautifully crafted, effortless for family living, and set within a wonderfully welcoming village community.”
While they thought they would be in the home for years, rising demand for them in Europe will have them relocating so they can handle projects in Italy, the Netherlands and the UK.
“These ventures require meaningful personal involvement, and as a result Karyn and I recently purchased a villa in Tuscany, which will allow us to base ourselves between Europe and the UAE for the foreseeable future.”
But with the original purchase coming with a more than $1m stamp duty bill, even at the top end of the range it’s likely they will walk away for less than their initial outlay as they pursue the expansion of Grande Experiences.
Bruce and Karyn Peterson inside The LUME Melbourne event space.
The original home is barely changed, but the extension shows an incredible new aspect of the property.
The basement garage comes with room to park eight cars comfortably.
Prior to their purchase, the property was extensively renovated and extended in an overhaul designed by Hayball Architects and handled by construction firm Hickory Group — with the original owners being Helen and George Argyou, who founded the builder with his brother Michael.
As you approach the facade of the Edwardian home it looks much the same as it has for decades, though finger-print entry was added by the former owners.
But head around to where the driveway slopes down to a basement garage and the showstopping extension starts to take over.
Below ground there’s carparking for eight in the basement, as well as a games room with a bar, storage space and a lift.
Swimming and an easy space to relax are on offer at the impressive home.
The home’s living zones come with design aspects heavily influenced by light and colour.
The home’s ground-level living zone is custom-made for entertaining.
The ground floor hosts original rooms still filled with character from its past including a bedroom with an ensuite and bay window, while the extension is used to host an ultra-modern open-plan living zone and kitchen.
With extensive concrete used for visual effect, as well as a long series of sliding doors that connect with an outdoor entertainment hub, the whole space is designed for entertaining.
Upstairs there are four more bedrooms, including the main which comes with a huge walk-in wardrobe as big as some of the homes other bedrooms, a private garden, balcony and an ensuite.
Character details remain on show throughout the home’s original section.
The renovated bathrooms of the home are a little different to what you might expect from the facade.
The lavish main bedroom offers plenty of space to unwind at the end of the day.
Outside, the 1140sq m block hosts a swimming pool and an array of mature gardens.
Marshall White’s Andy Nasr has the home listed for sale and said the home was “like nothing else” and would be vritually impossible to replicate today, both from a financial perspective and to get through town planning.
“There’s zero expense spared … it would be double figures to build it now, without blinking,” Mr Nasr said.
“And it’s totally private. To even get that block with that frontage, it doesn’t exist.”
Expressions of interest close at 5pm on March 10.
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