The Tollbooth is a prominent building in the centre of Banff and was considered as a priority project in the scheme due to the extent of the repairs required to the exterior. It is a Category B listed building, which in its current form dates from 1801, adapted from an earlier building which stood on the same site dating from the early 1700s. Originally built as a prison, tollbooth, court and council rooms at a cost of £2021, the previous structure on this site saw a number of local miscreants, and those from further afield, being sentenced and held here.

By 1794 the building had fallen into a ruinous state and materials from the building were sold in 1801 when the building in its current form was built. The building was built as an inn, and has had a number names such as The Tollbooth Hotel, The Dunvegan Hotel and The Temperance Hotel. Many will remember it as the Tollbooth Hotel where many a good night out was had until it closed in the 90s.

In more recent times the upper floors have fallen out of use, whilst the ground floor retail premises continues as a takeaway, where a former Townscape Heritage Initiative Scheme in 2009 saw improvements works carried out to reinstate the traditional shopfront. Works were carried out here in the summer of 2018 to repair the timber windows, the roof, install new cast iron rainwater goods and to remove and replace the harling with a lime based alternative.