Captain Tench Arcade is part of the earliest business street in Australia and the continuing use of the buildings as shops continues this tradition.This land was part of the first hospital complex serving the early colony. The second brick ward/store was erected on this site. It has historic and social significance by the strong associations with the early grants and subsequent developments on this site and within The Rocks generally. The building provides evidence of endeavours to encourage planned development after The Rocks had been resumed by the Government in the early 20th Century.