The palace was built by Juan Vazquez de Molina, nephew of Francisco de los Cobos, and secretary of State for Philip II.

After the death of the owner the palace became a convent of Dominican nuns, and was remodeled to accommodate the religious community.

In 1837, after the Ecclesiastical Confiscations of Mendizábal, the building became the City hall.

The façade has three storeys and is divided into seven vertical sections of different widths.

Architectural features of the main facade include the central portal, the triangular pediments that cap the windows of the main floor, the oval bull's-eye windows (porthole) and caryatids of the second floor, the projecting cornice and the lanterns placed at the corners of the roof.