Stephen Arvanitis, son of aged care mogul Peter Arvanitis, has discreetly listed his Toorak mansion for sale, just over a year after purchasing it for approximately $30 million.
At 27 years old, Stephen acquired the six-bedroom St Georges Road property from billionaire Smorgan family members Michael and Hayley in 2023.
According to realestate.com.au, the ivy-clad mansion sits among Melbourne’s most prestigious homes and is now being sold off-market through Forbes Global Properties Australia.
Real estate director Robert Fletcher stated that while no official price range has been set, the property is expected to fetch around $30 million.
He described it as a prime opportunity for renovation or redevelopment, spanning 2,100 square metres on the sought-after north side of St Georges Road.
CoreLogic data shows the Smorgan family originally purchased the estate for $4.25 million in 2001.
The sale follows Stephen’s parents listing their own Toorak home for $50m-$55m in October 2023, though it has since been withdrawn from the market.
Stephen’s dad Peter founded the aged care company Estia Health. The company was acquired privately by Bain Capital for $551.3 million in December 2023, after Peter resigned in 2016.
Source: realestate.com.au
