Studio Magazines founder Marcello Grand sells Paddington terrace

Architect-turned-magazine publisher Marcello Grand has sold his Victorian ­Paddington terrace that he attempted to flip late last December when the auction attracted no bids.

The transformed terrace was ­relisted for auction last month, selling last week at an undisclosed price, but understood to be around $2.38 million.

This time its new listing agent Catherine Dixon at Phillips Pantzer Donnelley offered $2.6 million price guidance.

Grand, who established Studio Magazines in the 1980s, paid $2,215,000 in April two years ago.

He spent months reconfiguring the three levels, and added a bathroom.

The council was advised the costings were $150,000.

Set behind a yellow front door, the Underwood Street home still has three bedrooms.

This article was first published in the Sunday Telegraph.