The square dates from 1713 when it was recorded as having 16 uniform two-storied houses with five-bayed fronts having angle pilasters, pedimented doorways, and dormer windows. It was created as the centrepiece to John Pemberton's Priory Estate. It was designed by William Westley who produced a print of the square's layout in 1732. From old conveyances, it is recorded that 20s. per yard frontage was paid for the site of some of the houses in the square and up to 40s. in Bull Street; the back plots, including the Friends' burial ground (once gardens to the front houses) being valued at 1s. to 2s. per yard. One of the corner houses, originally called "the Angle House", was popular in that it was sold in 1791 for £420, increasing to £970 in 1805. In 1843 the price increased £1,330 and in 1853, £2,515.