The former Palm Beach Hotel was the first property to occupy the land behind Gyllyngvase Beach in the early 20th Century, and was built on land secured from the Kimberley Estate. The hotel enjoyed good trading over a number of decades but started to fall into decline in the middle 1980s, and at around about the same time ceased being a hotel, but under the same family ownership started trading as a nursing home. In the 1990s the nursing home ceased trading and again under the same ownership the property started to act as student accommodation for the nearby university. Through the years however the building itself fell into decline, and this use ended in 1999, since when the building lay vacant and derelict.

Queen Mary House was delivered by Wycliffe Developments Ltd (Formally Palm Beach UK Ltd) with works starting in July 2010 and completing in December 2011.