It can be found in the town centre, in Bell Street alongside the Market Place.
The building dates back to the mid 16th century.
All market towns had a shambles. Its function was to bring in live animals and convert them into manageable pieces, and to subsequently sell the resulting meat. So it was a cross between an abbatoir and a butchers.
It must have been an appallingly messy and smelly place to work or visit (this is the origin of the term "shambles" that we use today), and far from the undeniably picturesque places like, for example, the Shambles in York.
The Shambles in Lutterworth is now used as a pub.