The Guildhall was built in 1740 by Richard Edgcumbe and this event is recorded on the front of the building with his coat of arms and the inscription: "Richard Edgcumbe Esq. erected this building Anno 1740."

The building is of Cornish granite and the main internal feature is the linenfold panelling which is believed to have come from an older building on this or a nearby site.

The ground floor, formerly a Corn Market, is now occupied by the Town Museum.