Originally occupied by the Bank of Adelaide, the sandstone building was designed by Edmund Wright and erected in 1878–1880. In 1939 and 1941, subsequent refurbishments to the western section fronting Currie Street took place, matching the Italian influenced façade of columns and distinctive arched windows. Strongly identified with a period of prosperity in South Australia in the 1870s and early 1880s, the building is one of few such examples remaining.

Located in the heart of Adelaide’s central business district, the commercial building occupies a prominent south-western corner site at the intersection of King William and Currie Streets. Acquired by Riverlee in 2009, the building was upgraded and refurbished for exclusive occupation by Goodlife Health Club.