The building was constructed in 1745 to a design by architect Joseph Jarratt to replace an earlier nearby weavers' guildhall in the Lower Coombe which was built in 1681–2 and was located in what was originally the Earl of Meath's Liberty.

[9] At some stage in the 19th century the pediment was removed and with it the coat of arms detailed upon it and the original inscription which read "MDCCXLV JAMES DIGGES LATOUCHE - MASTER, FRANCIS GLADWELL, THOMAS ANDREWS - WARDENS".

A leaden statue of George II by John van Nost the younger (later some experts have suggested it may be by Benjamin Rackstrow) was located on the second floor in an arched niche in the front façade of the building with an inscription on the supported plinth below reading "Georgius Rex MDCCL".

It was originally unveiled on the anniversary of the Battle of the Boyne on the 1st of July 1750 and was finely gilted and ornamented with intricately carved weavers' tools but over time lost its luster and was finally removed on the 16th of November 1937.

[12] A famous tapestry made in 1738 by John Van Beaver of George II hung over the fireplace in the main hall and now hangs in the Metropolitan Museum of Art in New York.

A marble bust of LaTouche by John van Nost the younger stood in his honour in the building and is now owned by the Huntington Library in California.