Aged care mogul’s son Stephen Arvanitis sells Toorak mansion for circa $30m, about 18 months after buying it

27 St Georges Rd, Toorak, has sold twice in the space of just over 18 months.

The son of an aged care operator mogul, Stephen Arvanitis has sold his Toorak mansion for around $29m-$31m — about a year and a half after he bought it.

Mr Arvanitis is the son of Peter Arvanitis who founded the aged care company Estia Health, which was valued at $725m in 2014.

The company was then listed on the Australian Securities Exchange before it was acquired privately by Bain Capital for $551.3m in December 2023.

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Arvanitis listed his five-bedroom, four-bathroom house at 27 St Georges Rd for sale in February, with industry sources indicating it sold within its $29m-$31m advertised price range.

Forbes Global Properties Australia director Robert Fletcher confirmed the sale, but declined to comment further.

Property records show Arvanitis purchased the abode for about $30m in 2023, when he was aged 27, from members of the billionaire Smorgan family, Michael and Hayley.

Areti Arvanitis and Peter Arvanitis (left), the parents of Stephen. Picture: Instagram.

The mansion’s realestate.com.au listing says No. 27, which spans about 2100sq m, is one of the largest land holdings on the prestigious road, with scope to renovate or rebuild.

Behind the home’s facade and Italianate shuttered windows, there are whitewashed French doors, fireplaces, parquet wooden flooring as well as a sweeping curved staircase.

The kitchen is fitted with a large island bench and a butler’s pantry, while upstairs, there are five bedrooms and the main suite, which has its own fireplace, walk-in dressing room and an ensuite with a freestanding stone bathtub.

The expansive property features a pool and tennis court.

The lush green back yard and pool is a comfortable spot for entertaining or relaxing.

Mature trees and leafy foliage adorn the outside, where a heated swimming pool, built-in trampoline, vegetable patches and a tennis court provide for healthy rest and relaxation.

During the sales campaign, Mr Fletcher told the Herald Sun it provided a great opportunity for someone to renovate or redevelop the significant parcel of land on the north side of St Georges Rd.

“(It’s) in one of the best positions in St Georges Rd,” Mr Fletcher said.

“It’s the key for someone to open up the trophy they’ve always dreamt of creating.”