Former basketball star Andrew Bogut sells Beaumaris house for about $12 million

Former basketball star Andrew Bogut has found a buyer for his Beaumaris property, setting a suburb record for the bayside neighbourhood.

The beachfront home at 401 Beach Road was listed with a price guide of $11 million to $12 million and a deal was secured within 48 hours before it was marked as sold online on Monday.

SOLD - $12,000,000

401 Beach Road, Beaumaris VIC 3193

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Listing agents were Kay & Burton Bayside Brighton’s Eleisha Doherty and Tracy Tian Belcher.

Ms Doherty would not be drawn on the price, except to say the home would not have sold unless Mr Bogut was happy with the offer.

“Because the interest came from far and wide, the price was at a level he was comfortable taking it off the market,” she said, adding the purchaser was a local buyer.

“This Ricketts Point pocket is obviously the most exclusive enclave in Beaumaris,” she said, highlighting the beachfront location and large land size, and the strong demand for family homes in the area on large allotments.

A sale at that level would smash the suburb record. The highest confirmed sale in Beaumaris, according to Pricefinder data, is the nearby 411 Beach Road, which traded for $4.95 million in 2016, although two sales above $5 million are likely to emerge in the coming months.

The sale comes after a years-long stoush with Bayside Council, which knocked back a permit for a new home on the block but was overruled by the Victorian Civil and Administrative Tribunal. Last month it voted to allow a proposal for a four-bedroom mansion with a half-size basketball court, The Age reported.

The home was sold with options to retain the existing structure or develop it according to the approved plans for a grand home with a gym, steam room, sauna, lap pool, home cinema, wine cellar, rooftop terrace and parking for 16 cars.

Set on a parcel of almost 2400 square metres, the residence includes the original residential block and an adjacent piece of land, and offers serene views over the bay.

The current Hamptons-style home features four bedrooms, three bathrooms, a contemporary kitchen with a walk-in pantry, a study, a wood-burning fireplace, a four-car garage and a pool.