CASTLE-LIKE PADDINGTON RENOVATION SET TO SMASH SUBURB RECORD
Once a pub, now a palatial home, Paddington’s Windsor Castle is hitting the market with a $25m price guide.
2 min
Windsor Castle in Paddington may be of a very different calibre of real estate than the prestigious pile of the same name in England. Still, the former Sydney pub is nonetheless impressive in its own right.
Once a popular watering hole known as the Windsor Castle Hotel, the landmark corner building was transformed 13 years ago into a luxury five-bedroom residence with a $25 million price tag.
If the converted bar achieves its expected price point, it would break the Paddington price record, which currently stands at $20 million. That benchmark was set in 2023 with the sale of a penthouse crowning the residential apartments at the historic Royal Hospital for Women site on nearby Flinton Street.
This time around, the house is due to go under the hammer on October 11 through Luke Hogan and William Manning of McGrath Double Bay.
Built in the 1870s, the Victorian structure with a charming castellated roofline was one of Sydney’s premier hotels in its heyday, affectionately called The Castle.
Anita Nolan and former Goldman Sachs executive David Nolan bought the home in 2016 for $11.85 million, after the initial transformation by XPACE Design Group.
Before that, it traded in 2009 for $4.3 million when the hotel was sold by hotelier Marcus Levy, his wife Vanessa Sanchez-Levy and her brother, developer Chris Sanchez.
The couple of empty nesters are now looking to downsize.
Since purchasing the property nine years ago, the pair have made additional improvements, installing a grand 187-inch CinemaScope screen, Barco projection and 10 electric leather recliners in the home cinema, a 1700-bottle wine cellar, as well as a marble and white dolomite kitchen with a large butler’s pantry.
The state-of-the-art kitchen has a Sub-Zero fridge and freezer, an integrated wine fridge, two Miele dishwashers, a V-Zug induction cooktop, and Gaggenau self-cleaning steam ovens.
On a 770sq m block on leafy Windsor St, the unique house has 1000sq m of internal and outdoor living space. It features a four-person lift to four levels, plus a spiral staircase up to a private rooftop terrace with panoramic views to the CBD and Harbour Bridge.
Other alfresco areas include the north-facing ground floor courtyard with a heated pool and barbecue area. This secluded outdoor space flows seamlessly from the kitchen and dining zones, for all-weather entertaining.
Created as a personal retreat on the second floor, the main bedroom features a vast, hotel-inspired en-suite, a dressing room, a private sitting room, and a large terrace. On the first floor, there are three more bedrooms, a home office and a library. Each of the three bedrooms has a limestone ensuite, Juliette balcony and built-ins.
Down on the lower ground level, there is a rare five-car garage with a turntable beside the wine cellar and cinema, and the house features smart home automation throughout.
A castle without a rolling estate to maintain, this Paddington property is within walking distance of inner Sydney’s most popular eateries, boutiques along Oxford St and Centennial Park.
Windsor Castle is set to go to auction on October 11, at 12.34 pm with Luke Hogan and William Manning of McGrath Double Bay, with a price guide $25 million.
Victorian auction buyers will soon receive a piece of information that has traditionally been withheld until bidding reaches it: the vendor’s reserve price. Under new property-sale and underquoting laws, agents must publish the agreed reserve at least seven days before an auction or fixed-date sale. Most changes begin on 1 October 2026 and apply to …
Continue reading “Victoria’s New Auction Rules Will Force Reserve Prices Into the Open”
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2 minVictorian auction buyers will soon receive a piece of information that has traditionally been withheld until bidding reaches it: the vendor’s reserve price.
Under new property-sale and underquoting laws, agents must publish the agreed reserve at least seven days before an auction or fixed-date sale. Most changes begin on 1 October 2026 and apply to auctions and fixed-date sales held from 16 October.
The reserve must be presented as a single dollar amount. Advertising and the new Property Price Statement must be updated to match it, without qualifiers such as “from”, “over” or “starting at”. If the reserve has not been published seven days before the scheduled sale, the auction or fixed-date sale cannot proceed and penalties may apply.
For buyers, the immediate benefit is clearer budget discipline. A purchaser should be less likely to pay for inspections, strata reviews, contract advice and loan preparation on a property whose seller will not accept a price within the advertised range.
That does not mean the published reserve predicts the result. Competitive bidding may still carry a property far beyond it. Nor does it remove the need to value the property independently. The reserve is the seller’s minimum at that stage of the campaign, not an expert statement of market value.
The Statement of Information will be replaced by a more prominent Property Price Statement. Agents must disclose key features of the property and of the comparable sales used to support the quoted price. Where three appropriate comparables cannot be identified, one or two must be supplied if they exist.
Sold-price transparency will also increase. Agents must add the unconditional sale price to the Property Price Statement within seven days and keep that statement available publicly for at least 18 months, subject to limited exemptions including personal or family-violence concerns.
Later changes will require Section 32 vendor statements to be made available earlier, including at least 14 days before an auction or fixed-date sale from June 2027. From July 2027, agents will be prevented from taking commission from deposits released before settlement.
Vendors and agents will need to adjust campaign strategy. Setting a reserve earlier may reduce last-minute flexibility and make price expectations more visible to competing buyers. Some vendors may prefer private treaty campaigns, although those sales remain subject to broader pricing and disclosure laws.
For buyers, the practical response is not simply to bid up to the disclosed reserve. Use it as one data point alongside comparable sales, building and pest reports, owners-corporation records, planning constraints and finance approval. Decide on a maximum before the auction and do not confuse the seller’s minimum with your own valuation.
Key dates
– 1 October 2026: Most new rules commence
– 9 October 2026: First reserve disclosures may be required for sales on 16 October
– 16 October 2026: New reserve rules apply to auctions/fixed-date sales from this date
– 1 June 2027: Earlier Section 32 availability begins
– 1 July 2027: Restrictions on commission from released deposits begin
– 1 December 2027: Broader sold-price reporting to Consumer Affairs begins
As interest rates, inflation and market sentiment fluctuate, investors are being urged to focus on data, not panic.
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