Windsor Castle Hotel Paddington

The landmark Paddington home of interior designer Rita Polovin and her husband, former restaurateur Peter, is set to stake a place in the local record books when it hits the market this week.

Sotheby’s James McCowan and Ballard’s Will Manning aren’t giving a guide, but the word is buyers will need more than $13 million to secure one of Paddington’s best views.

At that level, the palatial corner property, previously known as the Windsor Castle Hotel, would easily eclipse the suburb high of $7.75 million set in 2006 by a double terrace on Union Street and matched in 2010 by developer Stephen Dunkley’s renovated house on Goodhope Street.

The property is expected to sell for more than million and set a suburb record. Photo: Supplied

Thankfully, the original heritage facade remains, but beyond that the former haunt of many a local drunk has been completely redesigned into a single residence designed by Xpace. It has open-plan living areas that wrap around the north-facing courtyard and Rita’s has added her design skills on the finishes.

The dwelling is spread over five levels (including the rooftop terrace) with lift access throughout. Its highlights include a movie theatre, a glass-fronted plunge pool and five bedrooms, all with en suites.

It last traded in 2009 for $4.3 million when bought in Rita’s name from hotelier Marcus Levy, his wife Vanessa Sanchez-Levy and her brother, developer Chris Sanchez.

In 2012 the owners briefly listed the original facade and a large hole in the ground for more than $5.5 million but it didn’t sell.

In 2012 the Polovins briefly listed what was then the original facade and a large hole in the ground for more than $5.5 million with DA-approved plans for the residence but took it off the market when it didn’t sell.

A large-scale rebuild of the site followed, with re-enforced concrete supporting the facade and a sculptural staircase set at the street-front corner.

That hole is now basement parking with a turning circle to accommodate five cars and the living areas now dominate the entry level, all wrapped around the north-facing courtyard.

The Windsor Castle Hotel in Paddington in 1969. Photo: Sydney, A Book of Photographs, David Mist

The bedrooms above are also set overlooking the courtyard, each with its own private balcony. And a parent’s retreat with its own outdoor terrace, sitting room, dressing room and en suite is on the top floor.