Ever since its creation for the First Lord and Lady Spencer between 1756 and 1766, Spencer House has been widely admired as one of the most beautiful houses in London. The main façade overlooking Green Park is faced in Portman Stone and consists of a giant Doric Portico. The pediment is topped with statues of three gods - Ceres, Bacchus and Flora - resembling a classical temple dedicated to hospitality, love and the arts. 

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As the home of successive Earls and Countesses Spencer, the staterooms of the house became a theatre for the pageant that was London high society. Members of the Spencer family occupied the mansion continuously until 1895, when the house was let out. The Spencers returned for a brief time during the first quarter of the 20th century, after which the house was let at various times as either a club or offices. During the Blitz of the Second World War, it was stripped of its few remaining authentic treasures, specially made furniture, and fireplaces. 

Spencer House remains in the ownership of the Earls Spencer, the current freeholder being Charles Spencer, 9th Earl Spencer, brother of Diana, Princess of Wales. However, since the Second World War, the house has been continuously let out. In 1948 it was leased to Christie's auctioneers, in 1956 to the British Oxygen Company, and in 1963 to the Economist Intelligence Unit. 

On 25 December 1986, RIT Capital Partners, the family company of Jacob Rothschild, 4th Baron Rothschild, secured a 96-year lease (with an additional 24-year option) with an annual rent of £85,000.

After a ten year restoration, Spencer House was reopened in 1991 by Diana, Princess of Wales.  It comprises eight magnificent, noble State Rooms, each with its own distinctive design, character and history.