The Toorak home of Michael and Hayley Smorgon, members of Melbourne’s billionaire Smorgon dynasty, has quietly sold in an off-market deal understood to be worth about $30 million, according to local real estate sources.

A search of property documents confirmed the mansion on Toorak’s St Georges Road is set to change hands after a purchaser’s caveat was lodged on the property by Stephen Arvanitis, the son of controversial aged care mogul and Estia Health founder Peter Arvanitis and wife Areti.