The original Town Hall which is situated alongside the Post Office was built as the Petersburg Institute in 1884 at a cost of £853.15.9.

Initially it was a privately owned building but the Corporation of Petersburg took over the building and used it as a Town Hall from February 1889. In 1891 the hall was renovated again by building an addition onto the front and a dressing rooms and new stage at the rear at a cost of £1,020. The building was officially opened by the Governor, The Earl of Kintore on the 22nd of November 1894. Since that time the building has been used for a variety of things; ranging from a skating rink, courthouse, museum, and a library. It is now a private residence and there are no tours of the building.

The current Town Hall which is on the left hand side of the Old Town Hall was built in 1927 at a cost of £13,961.0.6 and is claimed to be the largest and most ornate Town Hall in country South Australia. The stage measures 55ft wide, 21ft deep and 24ft high. The hall can seat 1,000 patrons and has excellent facilities such as kitchen/bar area and change rooms. There are rooms set aside for the Mayor, Council Chambers, RSL and a meeting room for the townspeople. Originally the five rooms along the front of the building were leased as shops but are now used as office space for the District Council of Peterborough. The Hall is open to the public between 9am and 4:30pm Monday-Friday but is closed on weekends and Public Holidays.