Built by the British in 1888, it was a wet market for KL residents. Extensions over the years would, by 1933, result in its current size. The wet market was very convenient as it was within the vicinity of the various bus hubs (Foch Avenue, Klang Bus Stand and Melaka Street being the main ones then).
The wet market was closed in the 1980's due to traffic congestion and the building was to have been demolished. However the Malaysian Heritage Society successfully petitioned against its deconstruction and the site was declared as a 'Heritage Site'. The market was converted to an arts and craft center, and is now known as Pasar Seni (Arts Market).
Some of the buildings at the back of the market building have also been converted and renamed 'Annex Central Market'. It is one of the major art spaces in KL and is a hub of activity all year long.