Elsternwick trophy fetches half a million over reserve

An 1890s Elsternwick home, in 925 sqm of Rick Eckersley-designed gardens, has been sold.

Only recently updated with decor by interior designer Fiona Lynch, the five bedroom Gladstone Street home features soaring ornate ceilings

The 13 Gladstone Parade Elsternwick home sold under the hammer for $4.965 million.

The residence drew offers from five bidders, selling for around $560,000 above reserve.

There's a refined home office, a lounge and formal dining room all with white marble fireplaces.

"The grand, historic bones of this magnificent Victorian home became our muse," Lynch noted.

The client was encouraging of her exploration of colour, so she took an evolutionary approach from room to room.

Soft, earthy clay in the lounge melds into rusty brown in the adjacent study; through to a dining room swathed in striking blue.

Marshall White agent Sam Hobbs had a guide of $4 million to $4.4 million.

Last year the south-east Melbourne suburb saw three sales over the $4 million mark.

The classic Victorian home, Payneswick as its was known from the late 19th century, last traded at $3 million in 2014.

The earlier owners had Suzie Forge restored and extended it after it traded at $353,000 in the mid-1980s.

This article was first published in the Weekend Australian.