History
The building was constructed for Dr. William Alfred Verco, a local physician and property developer. Verco Building was Adelaide’s first ‘Skyscraper’. At a total of 6 storeys with a basement, it remained the tallest building in Adelaide until the early 1930s.
Verco bought the two-storey doctors' consulting rooms on the corner of North Terrace and Stephens Place, one block east of King William Street, from Dr. Allan Campbell in 1911. The architect was Eric H. McMichael, who was married to Verco’s daughter Constance. It was his first architectural commission, and led to a successful architectural career. The initial plans McMichael drew up were completed for Verco in 2 weeks, and depicted a large seven storey building with basement. Two weeks later, on 12 August 1911, the plans were resubmitted to Verco with changes for a more friendly layout for tenants. The project was developed in two stages.
Wanting to pioneer large building construction in Adelaide, Verco pioneered reinforced concrete building by liaising with concrete specialists in Adelaide and in Melbourne. Today, the building is still one of the best examples of this construction type.
Excavation commenced on 9 September 1911, and after some delay due to weather, was completed on 21 October 1911. By 19 February 1912, the basement and ground floors were done and concreting was continuing. Verco was determined for the building to be fully complete by the end of 1912, as he was wishing to commence other projects in Adelaide. As a result, he instructed more builders to enter the site, the extensive detail on some facades to be reduced, and for the seventh storey to be omitted (although the building could support it). The first stage was completed in September 1912, with only some parts of the fit out left to complete. The second stage was completed in 1915.
Verco had wanted to spend only £30,000, (almost A$11,000,000 (2007)), but McMichael’s estimate was £31,200 (A$11,440,000 (2007)). It was estimated the final cost to Verco was £30,250, (roughly A$11,090,000 (2007)), as the seventh storey was omitted.
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