Stephen Arvanitis, son of aged care mogul Peter Arvanitis, has sold his Toorak mansion for approximately $29 million to $31 million—just a year and a half after acquiring it, according to realestate.com
His father, Peter Arvanitis, founded the aged care company Estia Health, which was valued at $725 million in 2014. The company was later listed on the Australian Securities Exchange before being privately acquired by Bain Capital for $551.3 million in December 2023.
Arvanitis listed his five-bedroom, four-bathroom residence at 27 St Georges Rd for sale in February. Industry sources confirm it sold within the advertised price range of $29 million to $31 million.
Property records indicate that Arvanitis, then 27, purchased the estate for approximately $30 million in 2023 from billionaire Smorgan family members, Michael and Hayley.
According to the mansion’s realestate.com.au listing, No. 27 spans roughly 2,100 square meters, making it one of the largest land holdings on the prestigious street, with potential for renovation or redevelopment.
Inside, the home features a grand facade with Italianate shuttered windows, whitewashed French doors, fireplaces, parquet flooring, and a sweeping curved staircase. The kitchen boasts a large island bench and a butler’s pantry, while the upper level houses five bedrooms, including the main suite, which comes with a fireplace, a walk-in dressing room, and an ensuite featuring a freestanding stone bathtub.
The outdoor area is adorned with mature trees and lush greenery, alongside a heated swimming pool, built-in trampoline, vegetable patches, and a tennis court for leisure and recreation.
Source: realestate.com
