It’s long been regarded as one of Adelaide’s most iconic city high-rises, built during the boom years following World War I.
And now, King William Street’s T&G building stands to make history once more, with the conversion of its top floor into six stand-alone apartments.
But first, the unique property, which is otherwise occupied by Quest Hotel, has to find a willing buyer.
Level 9/82 King William St is on the market with Jock Gilbert Real Estate Rose Park and offered for sale via an expression of interest campaign – as per instruction by the mortgagee in possession.
“Under community bi-laws, the property is meant to be converted into six strata apartments which could be used as part of the hotel,” Mr Gilbert said.
“So it would be perfect for a syndicate of people to get together, renovate this space, and lease the apartments back to the hotel which occupies the majority of the building.
“It could be converted into just one apartment but it would be a matter to negotiate with the body corporate if someone wanted to do that.
“Either way, it’s a great long-term investment.”
As it stands, the property covers 612sqm of floor space with three-lift access and views across King William and Grenfell Streets.
Mr Gilbert said the property’s inner city locale had already attracted interest from near and far.
“I’ve had some early interest as there were a number of people who knew it was coming (to the market),” he said.
“It’s a very interesting property, one that not a lot of people in real estate get to experience
“It’s a property that will capture the imagination of a lot of people and I think, it’ll go to someone local.”
A BRIEF HISTORY
According to Adelaidepedia, the T&G Society bought the site in 1912 for £30 000 to house the new offices of its South Australian branch.
Architect K.A. Henderson of Henderson Alsop & Martin was commissioned to design a structure in keeping with the society’s progress and prosperity, while McLeod Brothers of Sydney were the building contractors.
At its opening on November 23, 1925, Adelaide’s master skyscraper was hailed as a “monument to great progress and a triumph of architectural and constructional skill”.
In the early eighties the T&G building was gutted and internally rebuilt, enclosing former light wells with repositioned services. The building was officially reopened on July 12, 1982.
The building now operates as Quest Hotel.