IOOF Building (Adelaide) - 47 Gawler Place

47 Gawler Place

As a result of the demolition of 11-13 Flinders Street, the Grand Lodge of South Australia of the IOOF purchased 47 Gawler Place in the 1960s, and built a six storey office building with a basement and a caretaker's flat on the seventh level. The Grand Lodge's various businesses were located on the ground, first and fifth (top) floors (levels 1, 2 and 6), and the other space was let, providing the Grand Lodge with income.

In 1975, the Whitlam government introduced Medicare (then named "Medibank"), and the roles of voluntary health insurance funds changed dramatically. As in Britain with the introduction of universal health insurance in the 1940s, voluntary health insurance fund membership dropped to a fraction of former numbers, and the friendly societies had to reduce the size of their businesses and concentrate on other forms of services for their members. As in Britain, these were generally investment services, insurance services, and provision of aged care facilities (colloquially known as "Old Folks Homes").

When the Grand Lodge of Victoria registered "IOOF" as its trading name, the Grand Lodge of South Australia changed its trading name to IOOF(SA). Subsequently, with the increasing focus on investment services, on 29 May 2007, IOOF(SA) changed its trading name to "KeyInvest".