The museum stands on the former site of Windermere Steamboat Museum. The core collection was built by local boat collector George Pattinson, who often saved boats that were at risk. The museum's current operator took ownership of the site in 2007, and the redeveloped museum opened in 2019.
The contemporary, weathered-copper-clad buildings are arranged to frame the lake and surrounding landscape while echoing the site's industrial dock history. That architecture is part of the visit: the collection feels connected to Windermere rather than sealed away from it.