Spicetown arose from a village when House Velaryon became the wealthiest house of the Seven Kingdoms from the voyages of Lord Corlys Velaryon. Due to its location, it began to attract much of the trade that elswise would've made for the Duskendale or King's Landing and its wharves became crowded with ships from the Free Cities and beyond.
Lord Corlys Velaryon, the Sea Snake, launched his ships from Hull and Spicetown to close the Gullet at the start of the Dance of the Dragons. The people of Spicetown heard the shriek of Vermax when the dragon was wounded during the Battle in the Gullet. The victorious greens sacked the town, butchering its populace and burning its buildings. Spicetown was not rebuilt after the civil war, at least by the time Archmaester Gyldayn wrote The Princess and the Queen.