It hosts a 1773-rebuilt public house, Ye Olde Mitre, of Tudor origin and is adjacent to Hatton Garden.

Butler, a powerful Munster landowner who had served in the household of Cardinal Wolsey in his youth, had crossed Sir Anthony St Leger, the quarrelsome Lord Deputy of Ireland.

The estate was granted to Sir Christopher Hatton in 1577 after a commission was set up by Queen Elizabeth I, headed by John Aylmer (Bishop of London) to investigate the claims that Sir Christopher Hatton should be granted the freehold of the land after he acquired a 21 years lease on the estate and spent a sum of the £1,887 5s 8d (equivalent to £679,211 in 2023) on renovations and repairs.

The commission declared in June 1577 that Ely Place should stay with Bishop Cox if he could reimburse Sir Christopher Hatton in whole for the outlay but he could not.

In 1622, the Spanish ambassador Gondomar told King James that she refused him and Coke access to the house.

It is one of two surviving buildings in London from the reign of Edward I (1272–1307) although it was badly damaged during World War II.

While the commissioners have lost most of their powers to local authorities established under the Metropolis Management Act 1855 (18 & 19 Vict.