Magazine publisher Marcello Grand looks to flip Paddington terrace

Magazine publisher Marcello Grand looks to flip Paddington terrace
Magazine publisher Marcello Grand looks to flip Paddington terrace

Veteran magazine publisher Marcello Grand is testing the Sydney house price market by attempting to flip his Victorian terrace in Paddington.

Grand, who established Studio Magazines in the early 1980s, paid $2,215,000 for the Thomas Hamel re-designed terrace just over 18 months ago.

He's spent months renovating the property which became a $1,350 a week rental after his purchase.

Magazine publisher Marcello Grand looks to flip Paddington terrace

He's reconfigured each of the homes three levels, adding a bathroom. It still has three bedrooms, but the master suite now comprises two levels, including an ensuite and dressing room.

The facade has been refreshed, now with a charcoal coloured exterior and a bright yellow door.

Magazine publisher Marcello Grand looks to flip Paddington terrace

The Agency's Ben Collier has a December 1 auction.

Grand sold out of Sydney in late 2016 because he was spending more time back in his native Italy.

He scored $3,525,000 for his Darling Point penthouse that cost him $1.4 million in 2012 when he bought from former Double Bay Art Gallery director Alan Winters.

Grand's first magazine was Studio Collections was a womens' fashion magazine with the Black + White magazine its most known after launched in 1992 and published until 2007. 

Having studied at Turin University, Marcello had previously worked as an architect and advertising consultant.

 

Tags: 
Title Tattle Paddington

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