The terrace marks the eastern edge of Colonel William Light's plan for the City of Adelaide.

Between Grenfell Street and North Terrace, it also forms the boundary of Adelaide's East End.

The western edge of the terrace is occupied by shops, restaurants, cafes, office buildings, professional, consulting and medical practises, residences, a school, and a number of churches and pubs.

Since July 2012, a dedicated bus lane in both directions has existed between Grenfell Street and North Terrace.

There is an "Historic Engineering Plaque" on a ground level plinth just east of the north-east corner of the Tandanya building, which was dedicated by the Institution of Engineers, Australia, the Electricity Trust of South Australia and the Adelaide City Council on 6 April 1995.