The Union Bond Store is a rare example of a single bay warehouse in remarkable condition from this period. The commercial warehouse use can still be seen in its face sandstone walls; warehouse doors on each level; cathead beam, roof structure (to accommodate this beam and its loading); and in the internal large second floor hatch for winching goods between levels.
The Union Bond Store forms part of the historic mid nineteenth century group (43-49 George Street) which also includes the adjacent Merchants House at 43 George Street; its narrow infill warehouse at 45 George Street; and the site of demolished twin warehouse across Atherden Street at 49 George Street. This group is important at a State level for its demonstration of how Sydney merchants in the mid-nineteenth century lived adjacent to their warehouses within a short distance of the port, in a similar manner to European mercantile practice from at least Renaissance times.
The relatively fine architectural detailing of the group demonstrates the prosperity that merchant companies were experiencing at the time. The Union Bond Store was designed by the notable English-born architect John Bibb (1810-62).