A recently completed four bedroom home in Byron Bay which appeared on Lifestyle channel's Grand Designs Australia, has sold for a multi- million dollar loss.

The house designed by Molnar Freeman and Popov Bass Architects has views of Wategos Beach and Julian Rocks.

Developer Max Iacopetta and his wife spent $7.5 million and sold the property for $5.6 million after making more than 70 changes to the architect's original plans.

The house features four bedrooms with ensuites, hardwood timber floors and a wine room as well as lift access for the three storey property.

The Sydney Morning Herald (SMH) reported that TV host Peter Maddison said:

''With all his experience in building, adding variation after variation is such a slow way of doing things. My only conclusion is that he is enjoying this,''

The SMH also reported that the couple flew to the Milan Furniture Fair to source joinery, furniture and top-of-the-line Armani/Dada kitchen fixtures.

Iacopetta also organised for a specialist to fly in from Italy to install it along with sourcing the bathroom stone from a quarry in Italy for the tub.

The bank cut financing to the couple after costs got out of control however the couple responded by deciding to take two months holiday in Paris further delaying the build.

Images courtesy of McGrath

Madeline Prince

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