It has occupied its grounds on Pier Road in St Kilda since prior to incorporation.

Sailing began on the approximate site of the current Royal Melbourne Yacht Squadron club house in the 1870s.

The squadron was the control centre for the 1956 Melbourne Olympic Games yachting events.

The club organises races on Port Phillip throughout the year on Saturdays, Wednesdays and some Sundays.

A Bureau of Meteorology weather station, which is limited to wind speed only, is located on top of the club house.