Canute Place is situated at the bottom of Princess Street. In the 19th Century in was often used as a spall open-air market for livestock.

For many years the corner of Canute Place opposite the Red Cow Inn was known as Mary Moston's Corner after the keeper of the stationery shop, this is now the Royal Bank of Scotland. The Red Cow, was built opposite in 1758 and has also been known over the years as the Brown Cow after a famous breed of Cheshire cattle.

The thatched cottages that once lined Canute Place were replaced by small houses and shops built by Lord Egerton. In the 1960's however, these too were replaced by the shops and flats which can be seen today.