In 1916 the British Government contracted the Australian Government to take over the entire wool consignment. The first woolstores (south) was built by Elder Shenton, originally Stock and Station agents.
In 1918 the company became Elder Smith & Co. In 1924 Goldsborough Mort Ltd (GM) was established in Fremantle, and in 1927, built the first stage of the north woolstores on Goldsborough St for £75,000.
Prior to 1927, the location comprised a Church of England Rectory, a duplex with sheds and stable, 8 terrace houses and a large stone residence. The rectory was sold to Goldsborough Mort Ltd (GM) in 1925 for £13,000 and relocated to the corner of Queen & High Streets.
In 1963, Elders Smith merged with GM to become Elders-GM. In 1968-69, a linking bridge was built over Goldsborough Street between the north and south stores on the 2nd, 3rd, and 4th floors. The woolstores ceased operations in 1982, after handling 9,703,315 bales of wool.
The south woolstores were purchased in 1984 by Fremantle businessman Joe Rotondella for $3.5m, and the building and bridge was demolished in 1985 for a new shopping complex and carpark.
In 1987 the north woolstores were used for the America’s Cup Ball. In 1989, Australian Wool Corporation used it for storage. There were proposals to demolish in 1985 and 1987.
In 1991 Homeswest purchased the north woolstores from Heytesbury Holdings, for development as residential units, which did not eventuate, and the woolstores lay vacant.
In 2001 the building was partially demolished for apartments.
In 2022, Perth-based property group Hesperia acquired the historic Elders Woolstores building.
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