Initially a cluster of tiled sheds in Kampong Glam, a building was constructed in the 1870s to house the market.
The opening ceremony was led by William Henry Macleod Read, with Sir Harry Ord, then the Governor of the Straits Settlements, in attendance.
This, as well as the lack of space, led to the government deciding to reclaim land in order further expand the market.
However, the reclamation project led to a subsidence in 1892 that resulted in a section of the market being demolished for being too unsafe.
[7] In this period, the market's supply of fish mostly came from Chinese fishermen who covered the parts of the ocean near the Katong, Johor and Changi areas.
[8] During World War II, the basement of the market's vegetable section was used as a bomb shelter.
[6] Secret society members would extort money from hawkers and engage in gambling opium smoking and smuggling.
[5][10] In April 1974, the Urban Redevelopment Authority announced that the market would be demolished to make way for future developments, as it was "out of place", being surrounded by many high-rise buildings.
[11] In February 1977, it was announced that the Pasir Panjang Wholesale Centre would be built to replace Clyde Terrace and other markets that were to be demolished to make way for newer developments.