The Club's establishment dates back to 1846 but sadly its early history is, to a large extent, forgotten. These gentlemen were some eight in number and it is recorded that they occupied premises in Queen's Road Central facing what was the Post Office at the time. They obtained, and held, the property on the understanding that it should not be sold while any of them lived and, on those lines, the Club served its purpose for many years until only two of the original founders remained. These gentlemen disposed of the property, which was rented by the newly formed Members' Club in 1886.

The Club also housed a fine Library which consisted of 15,608 works in 18,091 volumes, some of which are still in the ownership of the Club. The Library has, of course, been modernised and now some 19,000 items; books, CDs and DVDs, are catalogued on a new computer system.

The current resident membership is around 1,550. Members are admitted only by invitation and ballot. Reciprocal Club members and temporary visitors proposed by Members may use the Club's facilities for not more than 30 days in a calendar year.

The Club has a Committee of 9 members elected annually by the Membership and who convene the various Sub-committees which ensure that the different sections of the Club operate smoothly. The Club Chairman is selected from within the Committee. The Club workforce consists of a General Manager, Executive Assistant Manager, 8 Department Heads and around 280 general staff.