[3] The foundation stone was laid by Premier of Western Australia Sir John Forrest on 6 November 1897, and the principal construction was carried out between 1898 and 1902 at a cost of £8,268, equivalent to A$1.3 million in 2022.

While the basic structure was retained, the internal layout was altered to accommodate permanent retail stalls, a bar was built in one corner, and the verandahs were replaced.

An area known as Farmer's Lane was established to the north of the main market hall, which housed temporary fruit and vegetables stalls covered with tarpaulins and umbrellas.

[5] Part of this area was damaged by fire in May 1992, prompting the building of a new Fruit and Vegetable Hall using tin and timber recycled from the Leach Highway wool stores.

This extension won a commendation from the Royal Australian Institute of Architects in 1993, and the Fremantle Markets were permanently entered on the Register of Heritage Places in November of that year.