Maserati and a mansion: NSW aged care owner Peter Arvanitis quits

A wealthy director of a COVID-19-riddled aged care facility has quit his role. But he’s not the only industry bigwig to be living the high life as the sector cries poor. SEE THE PHOTOS

Sue DunlevyNational Health Correspondent

@Sue_Dunlevy

2 min read

September 2, 2020 - 11:21AM

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Exclusive: As the aged care industry cries poor some owners are not short of cash with Heritage Care proprietors Peter and Areti Arvanitis flaunting prestige cars including a Maserati, Lamborghini and a Rolls Royce.

The couple’s multimillion-dollar mansion in Toorak, Victoria, was recently featured in Vogue magazine and described as “the Melbourne mansion with Gucci in almost every room”.

But they have also been making headlines for other reasons – the couple’s Epping Gardens aged care facility had the highest number of COVID-19 cases with 211 staff and residents affected by the virus.

Heritage Care directors and shareholders Areti and Peter Arvanitis (left), and Stacey and Tony Antonopoulos (right). Picture: Supplied

Areti Arvanitis with her Maserati. Picture: Chris Hopkins/Headpress

Late last week Mr Arvanitis resigned as a director of Heritage Care, which has 10 homes in NSW and Victoria, after intensifying focus on his and his wife Areti’s wealth while the aged care industry claimed it was going bankrupt and struggled to cope with COVID-19 infections.

Tony Antonopoulos and his wife, Stacey, who between them own half of Heritage Care. Picture: Supplied.

Mr Antonopoulos' Rolls-Royce, described as a Phantom Coupe Zenith Edition, the only one in Australasia and one of 50 in the world. Picture: Supplied

“Some have been critical of Peter’s private wealth which was acquired before his time at Heritage Care, including the public offering of Estia Health which generated over $1 billion in 2014,” Heritage Care CEO Greg Reeve told News Corp Australia.

“It’s not possible for any aged care operator to generate that degree of wealth from resident fees, and it’s inaccurate to imply otherwise,” Mr Reeve said.

The modern mansion on Grange Rd, Toorak, that the Arvanitis family previously owned before selling it for a multimillion-dollar sum in May. Picture: Supplied

The sprawling Toorak home was designed by architect Nic Bochsler in the 1980s. Picture: Supplied

It was described as “the Melbourne mansion with Gucci in almost every room” in a recent Vogue article. Picture: Supplied

“These past business achievements have nothing to do with Heritage Care, although we have benefited from Peter’s partial ownership since late 2018.

“Not wanting to be a distraction to the good work of staff, Peter has decided to resign as a Director of Heritage Care effective immediately, but will maintain his partial ownership in the business,” Mr Reeve said.

Outdoor features include a tennis court, pool and spa. Picture: Supplied

The five-bedroom home is surrounded by Japanese-inspired gardens. Picture: Supplied

Meanwhile in Queensland TriCare’s owners Paul O’Shea and sons Peter, John and Damien have had enough spare cash to donate over $80,000 to the Queensland’s Liberal National Party in recent years.

The O’Shea family was ranked 30th in Queensland’s Top 150 Rich List in 2014 worth $342 million.

Last night they told News Corp Australia this amount was “significantly overstated and we didn’t seek to correct at the time”.

Attention has been drawn to the fact the company is based in Norfolk Island.

The Centre for International Corporate Tax Accountability and Research found TriCare received $66 million aged care funding from the Federal Government in 2016-17 while the entire GDP of Norfolk Island estimated to be $68m a year in 2013-14.

The firm has said neither TriCare nor its shareholders receive any tax benefit in relation to Norfolk Island.

John Knowles and his wife Coral. John owns Arcare along with his brothers Russell and Graham. Picture: Nicki Connolly

Arcare owner and rich lister Russell Knowles recently sold a clifftop Portsea mansion in Victoria for a speculated $13.5 million.

Arcare owner Russell Knowles recently sold “Rovina”, a 1960s clifftop mansion in Portsea, for a rumoured $13.5 million. Picture: Supplied

The five bedroom, three bathroom home occupies a block of almost 2000sqm, and was designed by architect Geoffrey Sommers in the early 1960s. Picture: Supplied

The home has multiple formal and casual living spaces, with rooms opening on to a central courtyard that features a pool. Picture: Supplied

The clifftop Portsea plot overlooks Weeroona Bay. Picture: Supplied

Regis Healthcare founder Bryan Dorman is estimated to be worth $459m and ranked 233rd on The Australian’s Rich 250 list this year (up $49m on previous year).