The seep of the mineral spring located in the historical Tržiště (Market) below Zámecká věž (Castle Tower), which is known as the Charles IV Spring, was originally called Žrout (Glutton) and according to legend, Emperor Charles IV himself healed is ailing limbs with its waters. The oldest baths in Karlovy Vary once stood on this site. The spring seeps were originally protected by a simple columnar arbour and a short promenade hall. The current richly carved wooden colonnade was built in Swiss style on the site of the old Town Hall according to the design of famous Viennese architects Ferdinand Fellner and Hermann Helmer between the years 1882 and 1879. The own construction of the colonnade, intended as a temporary structure, was commissioned to master carpenter Oesterreicher from Vienna. During 1904 and 1905, the colonnade was prolonged to cover the seep of the Market Spring based on the design of the Director of the Municipal Building Office, Franz Drobny.
