The Lace and Things Shop has high local significance as part of an important township precinct and for its early connection to both Walhalla and Warburton. It has significance, too, for its associations with Valda Street, the present owner, who worked for some years for Sir Edward "Weary" Dunlop.

Lace and Things is a single storey timber shop located in the main shopping area of Warburton. The overall form of the building is consistent with it being a nineteenth century building. Without further inspection of the framing of the building (for example in the roof) it is not possible to determine if the building has been disassembled to enable its transport from Walhalla to Warburton.

The shopfront of Lace and Things is much more recent (perhaps c1950s) but is of great interest for its design and intactness. The shopfront comprises two large display cases on each side of a terrazzo paved entry. The windows are set within metal frames. Below each window, and across the main facade are stylish black tiles. Each of the display windows has a zig-zagged inner edge, creating a sense of enclosure at the entry.

The verandah appears to be a more recent replacement.

Physical Conditions: Excellent

Integrity: Unable to estimate