It was originally known as Eastgate Mill until 1554 when it was given to the city by Queen Mary in recompense for the expense caused by her marriage to Philip I of Spain. The mill was last rebuilt in 1744 by James Cook, a tanner. In 1820 the Corporation sold the mill to John Benham whose family continued to operate the mill and it remained in use until the early 1900s. The mill was used as a laundry during World War I. In 1928 it was offered for sale. In order to prevent its demolition, a group of benefactors bought the mill and presented it to the National Trust. In 1931 the mill was leased to the Youth Hostels Association for use as a hostel, a usage that continued until 2005.