[1] The site was part of the Teneriffe hillside alienated in 1854 by James Gibbon, a prominent local resident, land investor and later member of the Queensland Legislative Council.

Subsequent landowners include the Financial Guarantee & Agency Co. of Queensland Ltd and the Brisbane Stevedoring & Wool Dumping Co. Ltd. Goldsbrough Mort, a prosperous southern-based pastoral house (est.

For about £17,000 the Stuart Brothers built this small woolstore, the first known structure on this site, thereby taking advantage of the 1933 buoyant wool prices and labour market following the depths of the great depression.

[1] The store's projecting frontal bays, red brick piers and triple window openings separated by downpipes provide a degree of verticality.

This is achieved by means of a strong cornice line, which is surmounted by brick bands and a rendered frieze displaying the company name and construction date between moulded merino sheep heads.

The showroom also has square vents with timber louvers beneath the windows, and the customary sawtooth roof aligned from east to west for optimum lighting.

It reflects important developments, technological features and marketing procedures in Queensland's wool industry since the 1930s as well as the history of commerce 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.