This building was constructed in 1910. Recognising the investment potential of this warehouse precinct, Horace Edwin Broughton Young and Charles Ernest Young purchased the site of the Commercial Hotel for redevelopment in July 1909. The Young family founded the Fairymead Sugar Company Limited in 1879 which by 1912 was one of the largest mills in the Southern Hemisphere.

The timber framed brick warehouse constructed on this site in 1910, at a cost of £16 000, was three storeys high, with a basement, and a fourth storey on the corner section. The building was leased the same year to Queensland Agency Company (merchants), Kronheimer Ltd (tobacco and cigar merchants) and Gregory and Davidson (merchants and arrowroot manufacturers). On 30 April 1912 fire broke out in the corner section of Youngs Building, occupied by the Queensland Agency and caused considerable damage to parts of the building and much of the stock kept on the premises. The fourth floor collapsed and was never rebuilt, leaving the repaired building three storeys throughout.

In 1923 the property was subdivided. Subdivision 1 was acquired by W. D. Wills and HO Wills (Australia) Ltd (tobacco merchants) and John Simon Goldman and Ernest Victor Goldman, warehousemen, purchased subdivision 3. After Horace Young's death in December 1925, the remaining subdivisions were sold to Taubmans (Qld) Ltd and Arthur Cocks and Co, merchants. Change of ownership occurred in 1968 and subsequently the building has provided office space for numerous commercial tenants.