THE MULTI-MILLION DOLLAR MELBOURNE HOME WITH DRAMATIC STREET CRED
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THE MULTI-MILLION DOLLAR MELBOURNE HOME WITH DRAMATIC STREET CRED

A grand East Melbourne terrace with theatrical roots, reimagined by the late Sue Carr into a layered, light-filled family home.

By Kirsten Craze
Fri, Oct 3, 2025 6:06pmGrey Clock 3 min

Traditional Victorian-era terraces are famed for their theatrical façades adorned with intricate lacework and plenty of character. However, one historic home on Gipps St in East Melbourne has the ultimate dramatic street cred; it was designed by William Pitts, the architect behind Melbourne’s iconic Princess Theatre.

Pitts designed multiple Melbourne beauties, including St Kilda Town Hall, Queens Bridge, the Olderfleet building and the Rialto on Collins St, even the Wellington Opera House in New Zealand.

Crafted and built around 1870, prior to the completion of the Princess Theatre in 1886, this end-of-row terrace gained a new lease on life in 2019 when acclaimed architect Sue Carr AM was tasked with bringing it gracefully into the 21st Century via a four-year labour of love transformation.

Today, Kay & Burton agents Monique Depierre and Arabella Houghton are seeking between $10.5 and $11 million for 123 Gipps St via an expressions of interest campaign. The home was last exchanged for $4 million in 2012, before the extensive renovation.

In a pocket of East Melbourne where heritage overlays protect the character of the streetscape, the Victorian terrace was carefully reimagined to balance period elegance with contemporary comfort. Behind its striking white façade, Carr and her team created a series of layered spaces where period detail and modern function co-exist.

Carr has described her approach to the Gipps St property as “a journey of reduction.” By stripping back superfluous elements, to reveal the grandeur of Pitts’ original structure.

“The idea was to bring order and appropriateness of scale, respect for heritage, and outright contemporaneity to a Victorian terrace,” Carr has said when describing the home.

Central to that vision was light. The home is arranged across three zones: the restored terrace, a private courtyard garden, and a two-storey rear addition.

In the original front rooms, there are decorative cornices, ceiling roses and marble fireplaces. These classic old-world spaces with a modern makeover include a versatile music room, a library and a grand dining area.

Stepping through to the next generation of the floor plan, the heart of the home features a contemporary kitchen with a stone island bench and a hidden butler’s pantry fully-equipped with Gaggenau appliances.

The casual everyday family zone, complete with a cosy gas pebble fireplace, opens out to a bluestone-paved north-facing courtyard, where the current owners have created a calming retreat filled with bonsai trees and manicured landscaping.

Up on the first floor, all four bedrooms feature ample natural light and have built-in wardrobes. Beyond a statement pivot door, the main bedroom opens to a full-width private balcony overlooking leafy East Melbourne and has a walk-through wardrobe to an ensuite with a freestanding sculptural bath. One more bedroom has its own ensuite, while two more share a full family-friendly bathroom.

More than just a Melbourne terrace with an extension out the back, Carr’s transformation also includes a new zinc-clad rear addition that plays a dual role; it is a secure two-car garage with laneway access, that is also home to a self-contained studio above. Fitted out with its own kitchenette and bathroom, the independent space is an ideal guest suite, a home office or au pair retreat.

The modernised home boasts a long list of added extras, including honed limestone floors with underfloor hydronic heating and zoned climate control, as well as full security and custom lighting.

Close to green spaces, such as Fitzroy Gardens, Powlett Reserve and Darling Square, the East Melbourne house is within walking distance to the MCG, and city restaurants.

Listed with Monique Depierre and Arabella Houghton of Kay & Burton, 123 Gipps St, East Melbourne, is on the market with a price guide of $10.5 million to $11 million. The expressions of interest is closing on October 28 at 12 pm.



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A historic Barbados estate with a 300-year-old villa and 11 acres overlooking the Caribbean Sea is now for sale with a guide price of $22.5 million.

The seller is Kit Braden, chairman of the U.K. branch of French beauty empire L’Occitane Group, whose family has spent every winter for the last 13 years at the island property, known as Fustic Estate.

“It’s very much a family house,” Braden said. “We love having a lot of people there. It’s a collection point to keep everyone together.”

The main villa dates to 1712, though it’s been reimagined and expanded substantially over the years.

It spans 13,000 square feet and features seven en suite bedrooms across three wings, as well as expansive verandas, stone courtyards and rows of louvered doors in gay Caribbean pastels.

In the 1970s, when the home was owned by Charles Graves—brother of British poet Robert Graves—it was reimagined by stage designer Oliver Messel, one of the foremost theater designers of the last century. Messel expanded the home, added a lagoon pool with a natural waterfall and other theatrical features, according to Braden.

“The whole place is a little bit magical,” he said.

The home sits about 350 feet above the water, and surrounded by lush gardens that slope towards the water.

“We look down through our garden—which is about 12 acres of tropical gardens and palm trees and wonderful old mahogany trees—onto the Caribbean,” Braden said.

He and his wife first saw the property on New Year’s Eve 2013, during a quick trip from where they were staying in Grenada.

The couple spent an hour walking the perimeter, some of it still untouched jungle, in the pouring rain.

“By the time we got back, I had fallen in love with it,” Braden said.

His wife, however, wasn’t so sure. But in Braden’s telling, a second visit in sunnier weather with two of their children brought her around.

“She had to be talked into that it was a jolly good idea; now she absolutely loves it,” he said.

When they bought the property, the edge that runs along the waterfront was a jungle, so they cleared the ridge and transformed it into gardens.

They also bought an additional sea-level parcel with two beach cottages, giving the property direct access to the water and the town below via a five-minute walk.

The property also has a 15-person staff, a reflecting pond, an outdoor pavilion suitable for yoga and a commercial grade kitchen that can serve more than 100 guests, according to a brochure from Knight Frank, which posted the listing in March. They did not provide further comment.

For Braden, the property is special because of its natural beauty, its proximity to the town of Saint Lucy and its history—which dates way way back to when the island of Barbados was first formed via tectonic activity.

“It was basically tectonic plates that collided about a million years ago so the seabed is the top of the hill,” Braden said. “We’re on coral rock.”

As a result, Fustic Estate includes an extensive network of caves that were likely used by the Arawaks, a Venezuelan fishing tribe that followed the fish to these islands about a thousand years ago.

“If the fish were good they’d camp here,” Braden said. “There’s evidence that they stayed there in those caves, they lived there in good winters.”

Now it’s someone else’s turn to live on the land shared by Arawaks, the plantation owners of 1712, Charles Graves and the Braden brood.

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