By the 1880s the market place again needed renewing as the Lord of the Manor through ill health, seemed to have lost interest and the market buildings had deteriorated badly once more.  The newly formed March Urban District Council asked the Market Commission for permission to compulsory purchase the site but although this permission was refused, it was suggested the Council negotiate with the Peyton family with a view to purchasing the site.  This the council did and after the death of the Lord of the Manor, both the site and market rights were purchased in 1897 for £800.

Plans were then drawn up to replace the old market house with a new modern building.

With a Mr W T Unwin as the architect a new Corn Exchange was built at a cost exceeding £3,000.  The building of red  brick and stone dressings in the renaissance style (which is essentially the building we see today) included a tower 110 feet in height containing a clock bought by public subscription to commemorate the Diamond Jubilee of Queen Victoria. 

The new building also had a fire engine house that housed a 40 horse power steam engine by Shand and Mason, acquired in 1872, with around ½ mile of leather and canvas hose and manual engines, together with all the necessary accessories.  New paving and pens replaced the old outdoor sales area, and the clock from the old turret bought in 1795 was saved and installed in the tower of St Peter’s Church.  Farmers found it difficult to negotiate the steep steps to the upper floor with their sacks of produce and so after only 11 years, the Corn Exchange was no longer used.

The building became redundant once more and was put up for sale.  A gift of money allowed the Old Town Hall to be purchased by March Civic Trust for the town of March and to be developed into a Civic Centre to be proud of.