Aged care moguls list $55m Toorak mansion with bold interiors
A second Melbourne mega-mansion has hit the market this week, with aged care moguls Peter and Areti Arvanitis listing their Toorak home for sale with a price guide of between $50 million and $55 million.
The couple has embarked on a public campaign after The Age previously reported the home was available off market in early 2021.
At the time, Peter Arvanitis told this masthead: “Although I am not actively looking to sell, everything has a price, and only for a significant premium.”
Peter Arvanitis founded aged care company Estia Health but resigned as a director in 2016. In 2019, he joined Heritage Care, the company that owned the Epping Gardens aged care home, where there was a deadly COVID-19 outbreak in 2020, but later resigned as a director.
The couple’s Irving Road residence was designed by Travis Walton Architecture, with gardens by landscape architect Jack Merlo.
It was previously featured in Vogue Living magazine, billed as “the Melbourne mansion with Gucci in almost every room”.
The home features silk carpets and a Baccarat chandelier.Credit: Forbes Global Properties
Walton described the five-year project to create the home to the magazine as “literally one of the hardest things that I have ever done”.
The home spans almost 2000 square metres and is set on a block of almost 4000 square metres. It includes five bedrooms and six bathrooms, a concealed service kitchen, a bar and a 10-car garage.
The mansion’s bar and billiard table.Credit: Forbes Global Properties
The bold interiors range from stone floors and silk carpets to a Baccarat chandelier, while there’s a sweeping grand staircase and the main bedroom has a dressing room with an oversized handbag display cabinet. The property has a swimming pool and an al fresco kitchen and dining area.
The selling agents are Forbes Global Properties’ Mike Gibson and Robert Fletcher, who declined to comment.
There is room to entertain at the Irving Road property.Credit: Forbes Global Properties
Public records show the home is owned in Areti Arvanitis’ name and there is a mortgage listed on title to investment bank Credit Suisse AG. It was transferred into her name by Panagiotis Arvanitis in early March 2020 for a non-monetary consideration, and previously changed hands in 2015 when the address was sold by Kaye Fink for $12.2 million.
The home has featured in Vogue Living magazine.Credit: Forbes Global Properties
Areti and Peter Arvanitis.Credit: Instagram
The listing comes after the Myer family’s historic Cranlana in Toorak was this week offered with a price guide of between $96 million and $105 million.
A sale at that level would smash Melbourne’s house price record, which stands at $80 million for a St Georges Road, Toorak, knockdown bought by cryptocurrency casino entrepreneur Ed Craven.
Elsewhere, Melbourne restaurateurs Andrew McConnell and Jo McGann’s Toorak home was recently marked as under contract on its online listing, after being offered with a price guide of between $20 million and $22 million.
It has otherwise been a relatively quiet start to spring for Melbourne’s prestige property market, with a handful of expressions of interest campaigns concluding without fanfare, but agents expect more luxury homes to hit the market in coming weeks.