Located between Exhibition and Spring streets and extending from Bourke Street to Little Collins Street, Windsor Place was named in 1943 after the Hotel Windsor situated adjacent. Constructed in the 1880s as the Grand Hotel and renamed the Grand Coffee Palace shortly afterwards, the hotel became a leader in the temperance movement in Victoria, banning all liquor from its premises. In 1920, it was purchased by property developer Melbourne Hotels Limited, renovated and renamed the Hotel Windsor.
Prior to 1943, the lane was known as Lang Lane. In 1870, it was occupied by a bookseller and stationer, confectioner, artist and tailor as well as several residences. The Old White Hart Hotel also occupied much of the lane. The St John Ambulance Waggon Depot was located in Lang Lane in 1910.