The Corn exchange was designed by Cuthbert Brodrick, a Hull architect best known for Leeds Town Hall, and built between 1861 and 1863. The dome design was based on that of the Bourse de commerce of Paris by François-Joseph Bélanger and François Brunet, completed in 1811. In the late 1980s Speciality Shops plc restored it and converted it into a retail facility.
After a further restoration in 2007, the Corn Exchange re-opened in November 2008 as a boutique shopping centre for independent retailers. The 13,200-square-foot (1,230 m2) ground level was occupied by Piazza by Anthony until its sudden closure in June 2013.
In 2017 the Corn Exchange was acquired by property company Rushbond. As of 2019 the Corn Exchange contains about 30 independent retailers and food outlets. It is described as "one of only three remaining Corn Exchanges still functioning as a centre for trade in Britain", albeit no longer functioning as a corn exchange.