I had to Google this, it's Adelaide and Parliament - west side of the latter. Clearly a building that may be due for a face lift or a facadectomy.
Rebuild here does not look promising, not without demo'ing the significant residential building to the south.
The actual property in question is just over 5,000ft2. That would be very limiting in the best of circumstances; but you also face separation distance issues w/the building to the south.
Now, based on what's been done to the various buildings, and the way the site is organized, I assume this property includes the commercial building to the west on Adelaide.
That makes the footprint more interesting, but the separating distances no less challenging.
This property, the one to the west, and all the {current?/former?) residential properties fronting Berkeley are all listed in Heritage Register, but not designated.
The homes on the latter have been badly molested.
Similar molestastion has afflicted the first commercial building to the east, and would explain the incongruent 4th floor in the Parliament facing building.
Tasteless hacks made this over at some point.................sigh.
In my judgement, barring demo'ing the modern building to the south, there is only one viable redevelopment footprint and it would require facadectomy for everything on the block, and what might
be called an arc shape (though it could simply be a chevron as it were, rounding is not required).
This site would be expensive and challenging.