This building stands on the site of Adelphi Terrace built by the brothers Adam in 1768-1774. Among the occupants of the Terrace were Topham and Lady Diana Beauclerk, David Garrick, Richard Doyle Carte, Thomas Hardy & George Bernard Shaw, The London School of Economics and Political Science and the Savage Club also had their premises here.

The plaque was inscribed into the stonework of a 1930s pier on the site of Adelphi (originally Royal) terrace in November 1951 (carved and coloured by a Mr W H Sharpington), a standard tablet being too small to contain the wording. It was altered in 1952 to incorporate the full name of the London School of Economics and Political Science. It effectively replaced two (Royal) Society of Arts plaques which had been lost with the demolition of Adelphi Terrace, one of the most notable works of the Adam brothers and of London's greatest architectural losses, in 1936. The one commemorating the Adam brothers, Robert and James, is thought to be lost. The other, commemorating the actor David Garrick was also thought to be lost, but turned up at auction in 2014 and was acquired by the Garrick Club who have it on display above a reception desk, to the right of their entrance. on Garrick Street.