On the edge of Peace Park in Chippendale sits one of Sydney‘s most talked-about conversions – a once-derelict warehouse now reimagined as a three-level architectural showpiece.

Locals long knew the red-brick building as The Pigeon Shed, a century-old soap factory that, by the early 2000s, had become a crumbling shell filled with nesting birds.

Today, it’s almost unrecognisable: a soaring, light-filled residence with a glass-fronted pool, copper-clad lift, and enough space to house both a family and a small art gallery.

The transformation belongs to creative director Beau Neilson, daughter of billionaire arts philanthropist Judith Neilson, who bought the Pine Street site in 2012 for just over $3million.

With the help of acclaimed firm MCK Architects, she turned the industrial relic into a 735sqm home that straddles the line between private sanctuary and public statement piece.

Push through the oversized steel entry door and the drama is immediate.

A triple-height foyer funnels light down through the building, anchored by a gleaming elliptical copper tower that contains a lift to all three floors.

From there, the home unfolds in layers: formal entertaining areas and an office at ground level, casual living spaces and the pool above, and a cluster of bedrooms – each with its own terrace – crowning the top floor.

The design nods constantly to the building’s history.

Exposed brick, concrete panels and steel beams are balanced by warm timber ceilings and sandstone details.

Vast windows frame the greenery of Peace Park while hidden guest rooms and tucked-away study nooks add a sense of intrigue.

One of the most striking features is the glass-fronted pool that runs the width of the house, visible from the dining area and flanked by an alfresco barbecue terrace.

It’s an unapologetically urban setting, yet the design draws nature inside, from vertical gardens to shafts of sunlight that shift across the walls throughout the day.

The Pigeon Shed doesn’t exist in isolation.

Chippendale itself has undergone a renaissance in the past decade, evolving from a gritty industrial hub into one of Sydney’s most creative neighbourhoods.

Just a few streets away, the White Rabbit Gallery showcases Judith Neilson’s world-renowned collection of contemporary Chinese art.

Around the corner, cafes spill out onto leafy laneways, while Kensington Street has become a dining destination, home to Spice Alley and fine dining institutions alike.

Yet despite its location in the thick of inner-city life, the home feels surprisingly serene.

Its long northern border faces Peace Park, giving residents a rare leafy outlook in one of the densest corners of Sydney.

Neilson is now preparing to swap her Chippendale creation for a waterfront property in Double Bay, listing the warehouse residence with a $19million price guide.

It’s unlikely Sydney will see another home quite like it any time soon.

Conversions of this scale have become prohibitively expensive, and most surviving warehouses in the inner city are now tightly held or redeveloped into apartments.

That makes The Pigeon Shed part of a dwindling club: a private home that wears its industrial bones proudly while embracing the luxuries of contemporary family life.

For now, it stands as one of Sydney’s most distinctive addresses – a place where art, architecture and history collide, just minutes from Central Station, the University of Sydney, and the buzz of Broadway.