The Farmers Trading Company Building was erected in 1902 to 1903 as the premises for prominent Timaru drapery firm, T and J Thomson, established in 1883 by brothers Thomas and James Thomson. The building has architectural significance as a prominent commercial design by Timaru-born architect, James Turnbull and aesthetic importance for its highly decorative Edwardian façade. The building has historical significance for its continuous occupation as a successful drapery and department store. The location of the building is also historically important as it pioneered the northward expansion of the central business area of Timaru. It has enduring commemorative significance in honour of the coronation of King Edward VII.

The land on which the Farmers Trading Company Building is situated was formerly part of Rural Section (RS) 7555, granted by the Crown to George Rhodes and another, probably William Rhodes. In 1853 the Rhodes Brothers had RS 7555, and adjoining RS 730, surveyed as ‘Rhodes Town’ and subdivided sections were sold for commercial and residential occupation. The subject land was formerly Lot 154 of RS 7555, transferred to Thomas Thomson, a Timaru draper, in 1900. Prior to this the land was held by the Public Trustee, and a commission agent before that, and was undeveloped with only an ‘open shed’ described on the land in 1896.

In January 1902 Timaru architect James Turnbull invited tenders from builders for construction of ‘extensive business premises’ on Stafford Street for Thomas Thomson. The location was criticised at the time for being ‘too far north’, beyond the concentrated business area of the town. Building work had commenced by February 1902 and the back and side walls were erected by April that year. The building was named ‘Coronation Buildings’ in honour of the coronation of King Edward VII in 1902, however, construction was delayed due to difficulty in obtaining sufficiently large stone block for the pillars and was not completed by Coronation Day as intended. The building was nearing completion in November 1902 when Turnbull invited tenders for erecting a verandah at Coronation Buildings.

The building was completed in January 1903 and opened with a large celebration. The most prominent feature of the building was its ornate façade in plastered brick with flagstaff, balcony and verandah (since removed). The words ‘Coronation Buildings’ were set into the central pediment in relief lettering, although the main entrance was situated off-centre on the right side of the façade. T and J Thomson advertised their new premises as ‘ye sign of the crown’, referring to the crown that was mounted on the balcony balustrade. The interior of the building’s ground floor was divided into three large spaces from front to back.

In October 1908 the building was extensively damaged by a fire. The fire, which originated at or near the front door, ‘practically gutted’ the main shop and showroom on the ground floor and the first floor workrooms, but the brick construction prevented the spread of the fire or any damage to the façade. Thomson was insured for the lost stock and building and in March 1909 T and J Thomson returned to the Coronation Buildings, restored by Turnbull. The opportunity was taken to improve Turnbull’s original design by increasing the floor space by removing some interior walls and installing a more compact staircase. The interior spaces were also given ‘a more artistic appearance’. Charles Thomson expanded the business into the adjacent building to the north, erected around 1910. The firm was acquired by the nationwide department store Hay’s Ltd in 1961 which merged with Farmers Trading Company Ltd in the 1980s. ‘Coronation Buildings’ remains occupied by Farmers.