Raine Square was originally formed as a pedestrian walkway through land surrounded by hotels in the fifties and sixties, including the Wentworth and Royal hotels. In 2017, work began on the $75 million retail and entertainment upgrade for the precinct.
The Raine Square redevelopment commenced in late 2017, to carry out the base build and partition and ceiling installation to the retail levels of Raine Square over four levels. The plan was to activate street fronts and pedestrian walkways and create a seven day a week shopping, eating and entertainment precinct.