[1][2][3] It is located on Lonsdale street in the Melbourne's CBD's Greek quarter.

[4][5] The restaurant was founded in 1978 by Konstantinos Tsoutouras, also known as Barba Kostas.

It initially opened as a 24-hour restaurant, and became a part of Melbourne's nightlife.

[6] It has been described as 'an institution in Melbourne's culinary scene' and is known for being frequented by celebrities including Greek tennis players., Stalactites was heavily affected by the COVID-19 pandemic.

[7] In 2017, the owners of Stalactites created a fast-food souvlaki take-away chain named 'Hella Good', neighbouring the restaurant.