Hewn into the English countryside at a cost of £3 million, it was built six years ago as a dream home for the new millennium but is already on its third owner, as Richard McComb reports...

No expense was spared on the opulent Palladian-style mansion that nestles in the Warwickshire landscape. It is a house to love or loathe and with its Versace-inspired interiors, the look is perhaps more Footballers' Wives than To The Manor Born.

In fact, it is difficult to imagine actually living in this air-conditioned ultra-modern pile with its eight bedroom suites. And that is part of the problem - because the lavishly appointed house, called Palladio, has remained virtually empty since it was constructed.

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The wife of the Iranian businessman who built it six years ago disliked it so much she refused to move in, prompting him to sell at a £500,000 loss.

Its second owner, tycoon Vera Weisfeld, a rags-to-riches charity friend of the Duchess of Cornwall, has finally sold it again after waiting three years to find a buyer. A new owner was found after the original asking price was slashed from £3 million to £2.6 million.

Mrs Weisfeld, one of Britain's wealthiest women with a £50 million fortune, rarely stayed at Palladio, set in 35-acres of land near Stratford-on-Avon, using it only for occasional holidays with her husband, Gerald.

There has been barely a ripple on the surface of the colonnaded underground swimming pool and the ballroom floor is untouched by the scuff of dancers' feet.

Mrs Weisfeld, a former shop assistant, was brought up on a tough Scottish council estate and describes herself as "a wee lassie who did well in life". However, there is nothing modest about Palladio and the Scot put her personal stamp on the property, laying tartan carpets in the billiard room.

Palladio was built in 1999 from steel and concrete for an Iranian businessman. Decorative marquetry fireplaces and doors were sourced in Sorrento while Greek masons accompanied the shipment of marble from Crete, living on site for months as they created the intricate floors, one inlaid with a compass motif.

The house offers 10,000 sq ft of living space and has a sweeping double staircase, a gymnasium, steam room and sauna. The unused ballroom has fibre-optic lighting to give the impression of a star-filled night sky. Security features include automatic shutter blinds and closed-circuit TV.

The design of the house was inspired by the 16th Century Renaissance architect Andrea Palladio, who loved the grand villas of ancient Rome.

Mrs Weisfeld, aged 66, is thought to have bought the house five years ago but she and her husband decided they preferred the attractions of their native Scotland to Palladio's breathtaking views of the Cotswolds.

Richard Gayner, of estate agents Savills, who managed the sale, said: "Our clients have a lot of houses. They are Scots and just weren't spending any time at Palladio. It was a holiday home.

"They were passionate about the house. It is the sort of house you love or loathe.

"They furnished a lot of the interior. They put tartan carpets in the billiard room and had Versace-inspired furniture and curtains, all splendidly over-the-top."

Mrs Weisfeld became friends with the Duchess of Rothesay after Camilla attended a lavish banquet at her baronial-style home near Glasgow in the summer. The event was held to raise money for the Erskine Hospital for ex-service personnel and the National Osteoporosis Society, of which Camilla is president.

The Weisfelds made their fortune after selling the bargain retail chain, What Everyone Wants, for £50 million in 1990. Today, they devote their time to fund-raising, much of it channelled through their charitable organisation, the Weisfeld Foundation.

Whether the new owner of Palladio, an unnamed English businessman, will use the property more than its previous incumbents remains to be seen. But Mr Gayner insisted the sale showed the luxury property market was holding up.

He said: "Millionaires' Row is in very robust health. At the top end there is more wealth around than three years ago. There are bonuses and money from abroad. There are masses of people with a lot of wealth and scope for more growth."

However, Mr Gayner warned stamp duty increases by Labour were hurting the market generally.

"I suspect that with stamp duty as it is, the Chancellor is killing the golden goose. People are moving less often. They can't afford to."