Quick resale on Paddington's priciest property, the converted Windsor Castle Hotel

Hotelier Ben May and his wife Lucy have achieved a quick resale on Paddington's priciest property, the converted Windsor Castle Hotel.

It has been bought for around the same $11.85 million price they paid last October.

Listed through McGrath agents William Manning and Ben Collier, the May's will settle instead into their $12 million Point Piper home which is closer to schools.

The new owners of the Windsor Castle Hotel are Goldmans Sachs executive director David Nolan and his wife Anita.

The Nolan's had previously owned on Windsor Street, ducking out of Paddington in 1997 when they sold their terrace for $1.05 million having been there for three years. 

Designed by X.PACE, their new home has 770sqm of internal living space along with 250sqm of Annie Wilkes designed garden with pool.

Behind its castellated heritage facade, all five bedrooms have a balcony overlooking the courtyard.

There's an internal lift to the top floor parent's retreat which has its own dressing room, ensuite, sitting room and terrace.

Originally built in the late 1880's by Heinrich Dorhauer, who also built the Four in Hand Hotel, the hotel had previously been converted by restauranteur Peter Polovin and interior designer wife Rita Polovin.

The couple paid $4.3 million for the landmark property in 2009 and listed the home in 2012 for $5.5 million just with the DA approval.

When the home didn't sell they undertook a full scale rebuild and secured the $11.85 million sale.

May's purchase claimed the Paddington price record with second place going to the tech billionaire Mike Cannon Brookes and his wife, Annie who sold their Hargrave Street home for around $10.5 million in October.

The couple paid $7.3 million for the five bedder with heated indoor pool which was formerly the historic Myers Store circa 1907.

Paddington first broke the $1 million mark in 1988 on Glenview Street, quickly followed by then merchant banker Malcolm Turnbull and wife Lucy securing the first $2 million sale at historic Alster House.

This article was first published in the Saturday Daily Telegraph.