Images: LJ Hooker – Mile End | Woodville
An iconic Hyde Park institution has changed hands this week, securing a standout $4 million result. The tightly held Hyde Park property at 169–171 King William Road was home to Wild Child Stylelab, which, after 35 years in business, closed its doors at the end of last year.
The property went under the hammer with 11 registered bidders before selling to a family with an established hospitality portfolio. LJ Hooker Sales Executive Thanasi Mantopoulos says the site is set to be transformed into a new fine-dining restaurant.
Wild Child Stylelab was opened in 1990 by Carol Foord and, over the years, became well known for its range of Australian and International brands.
Thanasi said the strength of the result came down to several key factors, beginning with the building’s history. “There was the legacy of Wild Child and Carol Foord,” he said. “There was a lot of interest from people who knew the property and knew Carol, either personally or professionally.”
The location is also a major drawcard. The property occupies a 263sqm site with 16.9 metres of continuous frontage to King William Road. “It’s on a corner, which is a big advantage, and it has really great frontage to King William Road,” said Thanasi. “A lot of the neighbouring shops have small frontages and are quite narrow. At this one, people are really able to enjoy the streetscape, which makes a huge difference, especially for hospitality.
“We had people looking at keeping it as is, others considering splitting it back into two or three tenancies, and others who wanted to run their own business from it.”
The condition of the building was also a huge benefit. With consistent upgrades and improvements over the years, it has been carefully maintained over four decades of ownership.
The new owners have plans to open a restaurant in the spot. “The family who bought it have done restaurants before, and they do them really, really well. I think it will be a great fit,” said Thanasi. King William Road is already known as one of Adelaide’s premier suburban high streets, with a fantastic lineup of fashion, food and lifestyle operators. The addition is sure to be welcomed.
While Thanasi primarily operates across Adelaide’s western and south-western suburbs, he says he and the team selectively take on commercial properties that are unique or culturally significant. “When you get something tightly held for over 40 years, it’s rare. Once someone purchases it, you’re unlikely to see it back on the market anytime soon.”
So now, with a new hospitality chapter about to begin, the property’s story is about to evolve from fashion institution to dining destination, all while continuing its long-standing role as a landmark along one of Adelaide’s most coveted retail strips.
Get in touch with Thanasi Mantopoulos! Call 0421 188 498 or email [email protected]
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