27 St Georges Rd, Toorak, has bought twice within the area of simply over 18 months.
The son of an aged care operator mogul, Stephen Arvanitis has bought his Toorak mansion for round $29m-$31m — a few 12 months and a half after he purchased it.
Mr Arvanitis is the son of Peter Arvanitis who based the aged care firm Estia Well being, which was valued at $725m in 2014.
The corporate was then listed on the Australian Securities Trade earlier than it was acquired privately by Bain Capital for $551.3m in December 2023.
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Arvanitis listed his five-bedroom, four-bathroom home at 27 St Georges Rd on the market in February, with trade sources indicating it bought inside its $29m-$31m marketed worth vary.
Forbes World Properties Australia director Robert Fletcher confirmed the sale, however declined to remark additional.
Property information present Arvanitis bought the abode for about $30m in 2023, when he was aged 27, from members of the billionaire Smorgan household, Michael and Hayley.
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Areti Arvanitis and Peter Arvanitis (left), the mother and father of Stephen. Image: Instagram.
The mansion’s realestate.com.au itemizing says No. 27, which spans about 2100sq m, is likely one of the largest land holdings on the celebrated highway, with scope to renovate or rebuild.
Behind the house’s facade and Italianate shuttered home windows, there are whitewashed French doorways, fireplaces, parquet wood floors in addition to a sweeping curved staircase.
The kitchen is fitted with a big island bench and a butler’s pantry, whereas upstairs, there are 5 bedrooms and the principle suite, which has its personal hearth, walk-in dressing room and an ensuite with a freestanding stone bathtub.
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The expansive property includes a pool and tennis courtroom.
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The luxurious inexperienced again yard and pool is a cushty spot for entertaining or enjoyable.
Mature timber and leafy foliage adorn the surface, the place a heated swimming pool, built-in trampoline, vegetable patches and a tennis courtroom present for wholesome relaxation and leisure.
Through the gross sales marketing campaign, Mr Fletcher instructed the Herald Solar it offered an important alternative for somebody to renovate or redevelop the numerous parcel of land on the north facet of St Georges Rd.
“(It’s) in the most effective positions in St Georges Rd,” Mr Fletcher mentioned.
“It’s the important thing for somebody to open up the trophy they’ve at all times dreamt of making.”
The house’s curved staircase makes a press release.
The kitchen and eating space is lined with marble.
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sarah.petty@information.com.au