It was designed and commissioned by the Baron of Alcahalí and inaugurated in 1921.

It is a fine example of rational architecture, consisting of two rows of metal columns that support a number of metallic arcades.

At the time of its inauguration, it presented an iron structure, overlaid with wood paneling.
In 1998, due to the deterioration of the roof, it was remodeled. The beams were repaired and the original roof was replaced with one made of glass; this is the roof we see today.

Nowadays, the Friday Market is set up here.