This large and palatial-looking building has served many uses. It is the oldest (1715) existing privately owned structure on the Island city of Mumbai. Perhaps, one of the largest (4505.88 sq. mts.)
It was once the residence of the Governor of Bombay. William Hornby, a former governor who was instrumental in constructing the Hornby Vellard which bunded the breach at Mahalaxmi, lived here for a few years of his term in office. It also served as the Admiralty house, residence of the Commander in Chief of the Indian Fleet from 1770–1795. Around 1800 it was purchased by the Government and transformed into The Recorders Courthouse until 1878. The original porch was removed when the street was widened. The property was purchased by Rustomjee Jeejeebhoy and then sold to the Sassoon Family.
This was the First High Court of Bombay till the present one was built. When the High Court was shifted it was transformed into a hotel known as the Great Western Hotel. A new five-storied wing was added in the early 1890s. It was designed by renowned architect S M N Chandabhoy who also designed another smaller three-storied building in the later 1890s., which was used by the British dignitaries. The hotel was then purchased by a group of individuals as they were not allowed in the hotel. These individuals then used the property for mass public housing and commercial offices. Today also it has offices such as Akbarallys, Ensemble(Tarun Tahiliani), Trikaya etc. The 5th Generation of the purchasers from the British are still owning and managing the property.
The building also houses one of the most reputed stockbroking firms, Parag Parikh Financial Advisory Services Limited.