161-165 Gipps Street, East Melbourne VIC 3002

This substantial Victorian villa, dating from circa 1870, offers an exceptional fusion of classic period charm and refined modern updates, nestled in a highly sought-after East Melbourne location just steps from Fitzroy Gardens and within easy reach of the CBD.

Set in a quiet, exclusive enclave, the property is notable for being the largest of the trio comprising the historic Hope Terrace, featuring rare off-street parking for two vehicles via a porte cochere—a valuable asset in this inner-city setting. The home's striking façade, adorned with detailed timber verandah and stone ornamentation, introduces visitors to an elegant interior with soaring 3.6m ceilings, a beautiful red pine staircase, and architectural flourishes that create a welcoming and grand ambiance.

The residence has been carefully extended and renovated to combine original formal living spaces—such as the sitting room and study, each enriched with marble fireplaces and intricate ceiling roses—with a modern open plan kitchen, dining, and living area at the rear. The custom-designed kitchen is a standout feature, outfitted with premium appliances including dual V-ZUG ovens and a Siemens induction hob, complemented by a stone island and sleek cabinetry. This area opens seamlessly onto a tranquil courtyard garden, ideal for alfresco dining and entertaining.

Upstairs, four spacious bedrooms provide comfortable accommodations, anchored by the master suite which boasts an ensuite, a generous walk-in robe, and verandah access accentuated by classic sash windows with leafy views. An additional bedroom with its own verandah and integrated cabinetry is well suited for remote work or study. The upper level is completed by a stylish family bathroom.

A self-contained studio above the garage offers versatile accommodation options, perfect for guests, home office, or au pair living, featuring its own entry and ensuite. Additional conveniences include a Euro laundry, powder room, hydronic heating, reverse cycle air conditioning, three phase power, underground water tank, and solar hot water servicing the studio, alongside extensive data cabling, security systems, and external storage with laneway garage access.

Ideal for those seeking a prestigious family home or an elegant inner-city sanctuary, this property benefits from proximity to elite schools, sporting precincts including the MCG, and a wide array of cultural and dining options, with public transport readily accessible. This landmark residence offers both a refined lifestyle and significant character in one of Melbourne’s most coveted neighbourhoods.