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 in the late 1990s greatly reduced the significance of Carfax as a "meeting of ways" (whilst greatly reducing its chances of being destroyed by air pollution). After the demolition of the church the Tower was repaired and restored and the two figures beneath the clock still strike the quarter hours. A display of the history of the tower is to be found on the second floor.

Climbing to the top of its extremely narrow staircase will reward the intrepid with an excellent view of the city, for a smallish sum.