The museum is housed in a Georgian building on Fore Street. It was originally the Corn Exchange and has also been a school-room, a butchers, then a magistrate’s court and the town jail. Nowadays the building houses the Guildhall, which is used for meetings of Lostwithiel Town Council, above the museum.
The museum was founded in 1972 and it is now is now a fully accredited museum and a registered charity, which is run entirely by volunteers.