[1] The site of the Elders Smith woolstore has had several important owners, including the Government Resident, Captain John Clements Wickham, in 1847 and James Gibbon (Member of the Queensland Legislative Council) of Teneriffe House.

[1] Oxlade Investments, which belongs to the Mayfairs group of companies, purchased the property in 1983 and all three floors have subsequently been utilised by the Wool Store furniture centre in conjunction with the Australian Estates No.

This is achieved by means of a string course surmounted by a rendered frieze displaying the company name and obtrusive post and balustrade parapeting with recessed arched pediments.

However, the base of this building is distinguished more by the open arches of its colonnade which provides a covered way for the railway line and loading bays beneath a wide frontal projection.

The showroom on the top floor has square ventilators with wooden louvers beneath the windows, and the customary sawtooth roof, which is supported by tubular metal columns and aligned from east to west for optimum lighting.

It reflects important developments, technological features and marketing procedures in Queensland's wool industry since the 1920s as well as the history of quayage along the Brisbane River and of the pastoral companies concerned.

In form and fabric, this structure is an excellent example of the broad class of brick and timber woolstores which were built in Australian ports, including Teneriffe, to serve the wool industry.

This structure also has considerable visual impact due to its substantial form and unusual design, particularly the internal railway siding, repeated arches and pedimented parapet.