It is situated on the South Parade of Nottingham's Old Market Square, from which it derives its name, and is the most central of the system's stops.

The location is a high-profile one, benefiting from the long views and high pedestrian footfall of the market square.

[1][2] South Parade is part of a pedestrian area, which is closed to all vehicles except for trams and buses, and for delivery to adjoining premises.

To the west of the stop, the track executes a 90 degree curve to run along the west side of the square, before proceeding up Market Street towards the Royal Centre tram stop.

[1] The tram stop opened on 9 March 2004, along with the rest of NET's initial system.