The school was founded in the 12th century around 1160 by a local magnate, Walkelin de Derby (also called Walkelin de Ferrieres, or de Ferrers) and his wife, Goda de Toeni, who gave their own house to an Augustinian priory called Darley Abbey to be used for the school. Local legend has it that it was the second oldest school in England. However, there is no firm information as to the site of the original school. Recorded in a book entitled "Distinguished Alumni of Derby School" by J.M.J. Fletcher and published in 1872 there is a drawing of "St. Helen's House in Olden Times" on the inside front cover which it is believed was the original house given to the Augustinian friars. Its site eventually became a marble workshop and factory, somewhere on the opposite side of King Street from the new St. Helen's House built in 1766 and 1767.