Cornmill Square is an important feature of the early 20th century, grouping together various monuments in the town centre, including the Burgh Chambers and War Memorial, the Robert Burns Statue and Sir Walter Scott Memorial.

The Square was designed by Robert Lorimer, a successful Scottish architect after the original Corn Mill was removed in 1912. Two of the oldest inns of the town, the Salmon Inn and the Auld Mill Inn, still face onto the square.

The central feature of the Square is the fountain and the mill lade, which flows from Bank Street Gardens, through the Square and reappears along Paton Street.