One of Toorak’s most recognisable estates has quietly changed owners, marking the latest chapter in a property with deep roots in Melbourne’s high society.

Nestled behind manicured hedges and wrought-iron gates along the tree-lined St Georges Road, the five-bedroom residence has long been a symbol of the suburb’s old-world prestige.

For more than 50 years, the mansion was held by the Smorgon family, one of Australia’s most prominent industrial dynasties.

In late 2023, the keys were handed over to Stephen Arvanitis, son of aged-care magnate Peter Arvanitis, who reportedly purchased the property for around $30million.

But just over a year later, in February 2025, the estate quietly returned to the market – and didn’t stay there long. Sources close to the deal say it was snapped up in early March, less than a fortnight after being listed.

While the final sale price remains undisclosed, industry insiders estimate it fetched between $29million and $31million.

The fast turnaround is understood to be linked to Mr Arvanitis’ plans to relocate overseas.

With its rich ownership history and enviable position in one of Melbourne’s most exclusive pockets, the home’s swift resale suggests its allure remains undiminished – a rare piece of property that continues to turn heads.

In the heart of Toorak's most impressive boulevard lies a home that captures the grandeur of Melbourne 's elite residences

In the heart of Toorak’s most impressive boulevard lies a home that captures the grandeur of Melbourne ‘s elite residences

Rising with effortless elegance, the estate embodies old-world charm and modern sophistication

Rising with effortless elegance, the estate embodies old-world charm and modern sophistication

A home of this calibre is not merely purchased - it is inherited, its story woven into the fabric of the city's most prestigious lineage

A home of this calibre is not merely purchased – it is inherited, its story woven into the fabric of the city’s most prestigious lineage

Located just 5km southeast of the CBD, Toorak offers a rare blend of historic grandeur and modern luxury, with green avenues that lead to stately mansions and charming heritage homes.

The area is known for its exclusivity, where privacy is valued and opulence is understated, making it one of the most sought-after postcodes in Australia. 

With a median house price exceeding $7.5 million for five-bedroom residences, it is a place where opulence is the standard, and properties such as the one on St Georges Road are the crown jewels in a tightly held market. 

The home is set on a vast 2,140-square-metre parcel, one among the largest landholdings on the street, offering not just a house but a canvas for future grandeur.

From the moment one steps through the grand entry, there is a palpable sense of history and esteem.

The curved staircase, a sweeping centrepiece beneath soaring ceilings, speaks to a time when homes were designed to impress.

Sunlight spills through French doors, illuminating the parquet flooring and heritage fireplaces, while each room offers leafy vistas that shift with the seasons. 

At the heart of the home, a marble-clad kitchen is a vision of European refinement.

The property was once held by the Smorgon family, titans of Australian industry, for more than 50 years

The property was once held by the Smorgon family, titans of Australian industry, for more than 50 years

Toorak itself is a suburb of quiet privilege, where historic estates sit among tree-lined streets, and luxury is a matter of discretion rather than display

Toorak itself is a suburb of quiet privilege, where historic estates sit among tree-lined streets, and luxury is a matter of discretion rather than display

The curved staircase, a sweeping centrepiece beneath soaring ceilings, speaks to a time when homes were designed to impress

The curved staircase, a sweeping centrepiece beneath soaring ceilings, speaks to a time when homes were designed to impress

A grand island stands as an invitation to gather – whether for an intimate breakfast bathed in morning light or an evening spent entertaining under the glow of a chandelier.

The butler’s pantry ensures that every occasion flows with effortless grace. 

Upstairs, five generously proportioned bedrooms offer a retreat from the world, each space imbued with warmth and character.

The master suite is an indulgence unto itself, complete with a stately fireplace and a walk-in dressing room reminiscent of a Parisian atelier.

Its en suite is adorned with twin vanities and a freestanding stone bath – a place to unwind as dusk settles over the treetops of Toorak. 

Step outside, and the home unfurls into a sprawling garden estate, where hedged pathways give way to rolling lawns and mature trees reminiscent of the English countryside.

The tennis court awaits leisurely weekend matches, while the in-ground trampoline and vegetable patches bring a sense of playfulness to the otherwise stately grounds.

As the centrepiece of the outdoor space, a heated swimming pool shimmers beneath the sky, inviting morning laps or night gatherings with glasses of champagne in hand.

A grand island stands as an invitation to gather - whether for an intimate breakfast bathed in morning light or an evening spent entertaining under the glow of a chandelier

A grand island stands as an invitation to gather – whether for an intimate breakfast bathed in morning light or an evening spent entertaining under the glow of a chandelier

Sunlight spills through French doors, illuminating the parquet flooring and heritage fireplaces, while each room offers leafy vistas that shift with the seasons

Sunlight spills through French doors, illuminating the parquet flooring and heritage fireplaces, while each room offers leafy vistas that shift with the seasons

Its en suite is a place to unwind as dusk settles over the treetops of Toorak

Its en suite is a place to unwind as dusk settles over the treetops of Toorak

Here, summer soirées take on an air of timeless elegance.

Picture long tables set beneath festoon lights, the scent of magnolia and jasmine drifting through the evening breeze, as guests linger over laughter and fine wine.

On quieter days, the shaded terrace offers a perfect spot for morning coffee, accompanied only by the rustling of leaves and the distant hum of the city beyond.

To step inside the mansion is to step into a world where history, elegance, and modern refinement converge. 

Life in Toorak is defined by sophistication and convenience.

Stroll along Toorak Road, and you’ll find a curated selection of high-end boutiques, European-style cafes, and fine dining establishments catering to discerning tastes.

A morning might begin with an espresso at a local institution like Cafe Latte, followed by a leisurely browse through the designer stores that dot the precinct.

Later, a long lunch at Bistro Thierry offers a taste of classic French fare, or for those seeking something more contemporary, the vibrant offerings of nearby Hawksburn Village provide an array of gourmet delights.

Life in Toorak is defined by sophistication and convenience

Life in Toorak is defined by sophistication and convenience

Step outside, and the home unfurls into a sprawling garden estate, where hedged pathways give way to rolling lawns and mature trees reminiscent of the English countryside

Step outside, and the home unfurls into a sprawling garden estate, where hedged pathways give way to rolling lawns and mature trees reminiscent of the English countryside

To step inside 27 St Georges Road is to step into a world where history, elegance, and modern refinement converge

To step inside 27 St Georges Road is to step into a world where history, elegance, and modern refinement converge

For those who appreciate nature, Toorak’s proximity to the Yarra River ensures endless opportunities for outdoor pursuits.

A walk along the Capital City Trail offers stunning views of the riverbanks, where rowers glide across the water at dawn and dusk. 

Nearby Como Park provides a picturesque setting for weekend picnics, morning jogs, or simply unwinding beneath the shade of towering trees.

The Royal South Yarra Lawn Tennis Club also caters to those who enjoy an active social and sporting lifestyle.

Culturally, Toorak maintains a quiet air of refinement, with private galleries, exclusive events, and a thriving arts scene that often flies under the radar. 

The suburb’s proximity to the Melbourne Arts Precinct ensures that world-class theatre, music, and exhibitions are only a short drive away.

Whether indulging in the vibrant culinary scene, enjoying the green serenity of the riverfront, or simply retreating into the grandeur of a Toorak estate, life here is about balance – where elegance meets ease, and every moment feels effortlessly luxurious.

***
Read more at DailyMail.co.uk