The arcade takes its name from a fifteenth-century public house, the Flying Horse Inn, that is located at the Market Square end of the walk.

The facade of the public house has been retained and is Grade II listed building.

[2] A complete refurbishment, rebrand and the installation of horse sculptures to both entrance façades have complemented the takeover helping to put the shopping arcade, whose entrance sits within an 18th-century four storey brick Georgian elevation, back on the map.

The arcade is now home to a range of independent shops selling food, fashion and fine art.

London & County LLP plan to convert the two uppermost floors into student accommodation.