Before it became Liberty Place in 2013, the site has had many uses from early colonial times. By 1807 the area had been cleared and by 1823 buildings, most likely houses, had been built set well back from the modern street placement. By 1848 many of these buildings had been replaced by more substantial buildings along the current street alignment. By 1861, the Sydney Horse Bazaar had been established at the rear of the Pitt Street buildings (for its proximity to Hyde Park, Sydney’s original race course) with other buildings occupied by a milliner, a grocer, an upholsterer and a surgeon.

By 1870 the block bounded by Castlereagh, Pitt, Park and Market Streets was well established as an area dedicated to the horse and carriage trade. By 1880 the area was heavily built on, with a maze of shops, stables, shed and yards covering the entire site. In the early 1900s the site changed its usage and became a theatrical centre of Sydney. By the 1920s the former horse and carriage buildings had been converted in to motor car garages.

The site on which Liberty Place stands is the traditional land of the Gadigal people.