Hungerford Market occupied a strip 126 feet wide, extending 465 feet northward towards the Strand. The market had been built in 1680 and rebuilt in 1831 and was named after the Hungerford family of Farleigh Castle, near Bath in Somerset.

The site had become the property of the Hungerford family in 1425, when it was acquired from Sir Robert Chalons and his wife Blanche by Sir Walter Hungerford (later Baron Hungerford), Speaker of the House of Commons and Steward of the Household of King Henry V. It finally passed down the family to Sir Edward Hungerford (1632–1711), created a Knight of the Order of the Bath at the coronation of Charles II.

Before its rebuilding, Hungerford Market was called "a disgrace to the metropolis" (Mogg’s New Picture of London and Visitor’s Guide to it Sights, 1844). Mogg further says: "The present elegant and convenient structure was erected from designs by Mr. Fowler in 1831 and 1833."

The market consisted of three divisions. The upper one formed a quadrangle, flanked by colonnades with dwellings and shops. The centre - a great hall - was formed of four rows of granite columns, with arches springing from them to support the roof. Hungerford Market specialised in food: meat, poultry, fruit, vegetables, butter and eggs.

By 1830 the replacement of Old London Bridge meant that fishing boats could then come further upstream to deliver their catch. So the owners of the market hoped to break the monopoly of Billingsgate Market by providing a more convenient supply of fish for the West End. Hence a lower quadrangle was accessible by a spacious flight of steps and contained a fish-market.

Down another set of steps - Hungerford Stairs - was a wharf, about 200 feet long with steps down to the water, where landings could be made. The formation of floating piers at the quay facilitated the arrival and departure of numerous steam boats that left during the summer months every quarter of an hour, for the City, Westminster, and Vauxhall, and at other times for Greenwich and Woolwich.

When the site of the market was sold to the South Eastern Railway, the railway company demolished both it and the stairs, building Charing Cross railway station over the top.