Waterloo Place separates the two parts of a street named Carlton House Terrace, which consists of two terraces of cream-coloured townhouses. They were completed in 1833 and designed by John Nash, the favoured architect of the Prince Regent. (Nash was also responsible for Regent’s Park and Regent Street).
By the early part of the 19th century King George III had become mentally incapable of carrying out royal duties, so his son George was appointed to act on his father’s behalf as Prince Regent. We call that the Regency period.
Between Pall Mall and St. James’s Park stood Carlton House, built in the early 18th century for an aristocrat. The Prince Regent was profligate with money and had the house transformed into an opulent residence for himself in which to lavishly entertain guests. His father died in 1820 and was succeeded by the prince as King George IV. Despite spending vast amounts on Carlton House, the new King George turned his attention to transforming the nearby Buckingham House into his royal palace. Carlton House was demolished to make way for the two terraces you see today.
Facing towards the wide boulevard of Waterloo Place, and with your back to the Duke of York Column, turn left along Carlton House Terrace. When you reach the end of Carlton House Terrace, turn left through Carlton Gardens to reach the King George VI and Queen Mother memorial.