The palace was built between 1597 and 1611 by Sir George Bruce, the Laird of Carnock. Bruce was a successful merchant who had a flourishing trade with other Forth ports, the Low Countries and Sweden. He had interests in coal mining and salt production, and is credited with sinking the world's first coal mine to extend under the sea.

Many of the materials used in the construction of the palace were obtained during the course of Bruce's foreign trade. Baltic pine, red pantiles, and Dutch floor tiles and glass were all used. The palace features fine interiors, with decorative mural and ceiling painting, 17th and 18th century furniture and a fine collection of Staffordshire and Scottish pottery.

Outside the Palace is the beautifully reconstructed period garden, complete with herbs, fruit and vegetables, and rare Scots Dumpy hens.

The palace sits in the heart of the Royal Burgh of Culross