This grand building is a rare example of the fashionable houses once visible on North Terrace.
Around 1881 two small houses were demolished so that this house could be constructed for Thomas Greaves Waterhouse. Thomas was a successful businessman who owned the Princes Berkely Hotel on Hindley Street.
This house has also been home to other well-known South Australians. Sir William Milne, director and Chairman of the Wallaroo and Moonta Mining and Smelting Company lived here in 1876. Architect Walter Bagot, known for designing buildings including Bonython Hall and the Barr Smith Library, purchased the house in 1906.
This building has also housed a number of businesses. At different times, it has been a doctor’s office, a guest-house, and even a surgery and clinic to treat injured workmen.