[2] The original structure on the site dates from 1193, when it was called Maugershall after the then owner, and consisted of shops with an inn on the upper storeys.

The building structures now on the site date from the late 15th century, when they were used as a traditional coaching inn, as is clear from its layout and historical documents.

It is believed that Hamlet was performed in the inn courtyard and a signature that is reputedly his can be seen on the wall in the bursar's office on the first floor of the adjacent building occupied by New College, Oxford.

This covered market was constructed in 1774 so as to relocate the stalls previously pitched on the Cornmarket.

but no direct access had been possible from the main retail street of Cornmarket up until the completion of this development.