Close to the Carmelite church is a low-lying granite palace which was constructed in 1545. This served as the Order’s first bakery and was popularly referred to as Fran tas-Sinjurija – The Rich Man’s Bakery. On top of this stood the Order’s Common Treasury where all accounts were kept.

When the Bakery and the Treasury moved to Valletta this Palace was transformed into a factory for the manufacturing of galley sails and rigging.