Opus Design founders list William Street, Paddington terrace

A William Street, Paddington terrace owned by Christine Tourgelis, the family matriarch of Paddington's famous independent gift and homewares retailer Opus Design, has hit the market.

Tourgelis, who with her husband Tass bought the original Opus Store in 1978 on Oxford Street, spent $590,000 on the 1890s terrace back in 2000.

Since then 15 William Street has been home to a number of retailers, but never Opus.

It is currently occupied by Wil Valor tailors and G&L Handmade Shoes.

The two level property has two bedrooms upstairs.

There's a private courtyard with rear lane access on the 80 square metre parcel.

It sits next door to fashion designer Sonya Hopkins' luxury knitwear store.

Richard Movsessian at Coastline Agency Maroubra suggests the building is ideal as a residence, gallery or designer boutique to live and work from.

Opus was founded by Christine and Tass in 1968, 10 years before they bought their first store on Oxford Street.

Four years ago they moved to a bigger 500 square metre space on Oxford Street which they converted from an old bank.

They dedicated a second level to furniture, art and soft furnishings.

They also have a sister store, OCTOPUS, on Newtown's King Street, which they opened in 2002.

The family ran business has is currently being run by Chris Tourgelis, Christine and Tass's son.

Their daughter Irene has also worked at Opus for over 15 years.