History: 

The House was built in 1912 on the west side of the foundation of Lækjargata 10 by Doctor Ólaf Þorsteinsson, he was the son of Þorsteins Tómason who built Lækjargata 10 in 1877, Olaf lived in the house with his family and had a operation theater in the house, Architect was Rögnvaldur Ólafson, The 1912 Guest House is one of the First Concrete constructed houses in Reykjavik, this house is the oldest example of the new Baroque area, the House has little changed since 1925, where a basement door was added and in 1933, the skin of the building had what was popular then, a grainy stone skin coating layer added.

Skólabrú was owned by the family of Doctor Ólafsson until 1984, after Doctor Ólafur retired, his sons kept up a working dentist office, for a  while the University of Iceland used it as an office, until the Parliament of Iceland, Alþingi bought the house in 1984 and kept it as a Document Library until 2000 where it was converted into a Guest House.