The section from Light Square to West Terrace has for most of its history had lower-scale retail and residential buildings, along with hotels and hostels.

Formerly a low-rise and quiet part of the city, the western end of Waymouth Street is now the site of high-rise residential buildings.

There is a 17-storey student accommodation tower opposite the Grace Emily Hotel,[4] which was described as "ugly" and "unsympathetic" by two city councillors during its construction in 2017.

[5][6] As of June 2024[update] there are plans to redevelop the site on the corner of Waymouth and Gray Streets (262-268), creating a 52-metre (171 ft) high apartment building.

[7] Across from the intersection with West Terrace is a service road for Adelaide High School and an entrance point to shared pedestrian and bicycle tracks in the western parklands.

[13] On 2 March 1994, a bomb exploded in the National Crime Authority offices in a building on Waymouth Street, after being sent to NCA Senior Investigator Detective Sergeant Geoffrey Bowen, killing him and severely injuring lawyer Peter Wallis.

Marlon Williams, Julia Jacklin, Justin Townes Earle, the Mountain Goats, Tim Rogers (many times),[19] and Ringo Starr's backing band have played at the venue.

[21] The first establishment on the site, the Launceston Hotel, opened in the early days of the colony of South Australia, in 1839, serving the working-class poor who lived in the area.

A bikie gang's bid was refused by authorities, and South Adelaide Football Club teammates Greg Kleynjans and Craig Dewhirst stepped in and bought the pub.