Carfax Tower is the only remnant of the old city church of St. Martin, demolished in 1896 to improve the traffic flow at what was a very important road junction; the pedestrianisation of Cornmarket Street and Queen Street has greatly reduced the significance of Carfax as a "meeting of ways". After the demolition of the church the Tower was repaired and restored, and a fine view over the city may be obtained from the top. The two figures beneath the clock strike the quarter hours. A display of the history of the tower is to be found on the second floor.

Cornmarket Street and Queen Street are linked by a shopping arcade called The Clarendon Centre, built in part on the site of what was a large branch of Woolworth's. When this store was first constructed, W.H. Auden wrote: "The Clarendon's gone - I regret her; the George is gone and forgot; some changes are all for the better; but Woolworth's is probably not."