The grand Star and Garter Hotel, designed by Dunedin architect RA Lawson, and built between 1866 and 1868, set the standard for hotel accommodation in Oamaru, and is a good example of Victorian Italianate architecture in Oamaru’s outstanding historic precinct. It has historical, architectural and townscape significance.

Places for travellers to stay were among the first buildings to be built in Oamaru. H.C. Hertslet was a Moeraki storekeeper; he shifted to Oamaru in 1858 and built his timber Accommodation House on this site and ran the Government Store. Brothers Fred and Edwin Collis managed the business for Hertslet until 1860 when Hertslet sold the property to Christchurch man William Jones. Jones ‘improved the house inside and out’ and changed the name from “The Accommodation House” to “The Star and Garter”.’ William Jones offered the hotel and its associated property for sale in February 1864. The sale notice describes the hotel with 27 bedrooms, three sitting rooms, a bar, a billiard room and a store, as well as a kitchen, and associated stabling.

Richard Payne, along with partners Armstrong and Newey took over the hotel, and with the Loyal Oamaru Masonic Lodge looked to develop the site. The Loyal Oamaru Masonic Lodge bought the property and planned this grand building as Oamaru’s Masonic Hall and the Star and Garter Hotel. The Lodge formed the Masonic Hall Company to run the project, with lodge members as directors and shareholders in the company. Dunedin architect R.A. Lawson won the competition to design a Masonic Hall, incorporating a new building for the Star and Garter Hotel, in Oamaru, calling for tenders for the first stage on 12 October 1866. Dunedin contractors Macdonald and Serle were the successful tenderers. The first stage of the building cost £1450.

By July 1867, the first stage of the building was nearly complete. The first section was consisted of a two storey structure covering an area of 63 by 43 feet [19.2 by 13.1 metres]. The North Otago Times reported that the building was ‘Corinthian’ in style with a 30 foot [9.1 metre] high façade, divided into six bays. The six upper storey windows were flanked by Corinthian pilasters with floriated capitals. In the lower storey four of the bays had windows, with the remaining two bays occupied by the entrances. The main central doorway was flanked by double columns. Both doors were surmounted by projecting balustrades. The balustrade on the parapet had pedestals and floriated vases. The entablature above the main entrance had the words “Masonic Hotel” in raised block letters. The ‘basement’ (more likely ground floor) contained a dining room, billiard room, parlour and lobby. The Masonic portion of the building took up the whole upper storey, and consisted of two small ante-rooms opening into the Hall, over which was a gallery. The hall was 21 feet [6.4 metres] in height, with a stone interior. The ceiling included a moulded cornice, as well as recessed panels finished with floral ornaments. There was a recessed area at the rear of the hall, flanked by Doric pilasters. The ground floor was let to Armstrong and Payne of the Star and Garter, with a link to their proposed new building which formed part of the design. The Masonic Hall portion was ‘little more than one-half of the whole elevation’.

Lawson called for tenders for the second stage of the building on 31 May 1867. The second stage was completed in 1868, and the whole complex renamed the Star and Garter. The completed building opened on 14 July 1868. The major difference between the two parts of the building was that the extension had an additional floor with rooms lighted by dormer windows. At the time it was described as "the finest hotel building in the province if not the colony". As well as lodge meetings, balls and dances, the hall was used for a variety of functions and many travelling companies brought their shows to Oamaru.

In 1876 the Masonic brethren built a new Masonic Tabernacle in Wansbeck Street and the proprietors of the Star and Garter, Mr and Mrs G.L. Langford, decided to convert the former Masonic Hall into additional bedrooms, taking the total to 35. The Star and Garter changed hands many times over the years and continued to operate as a hotel until 14 February 1915 when the building was gutted by fire. The facade and surviving rooms were stabilised but left unoccupied until after World War I when the Oamaru Returned Soldiers Association occupied part of the ground floor. About 1920 the Regimental Band (Fifth Mounted Rifles, Otago Hussars) occupied the original Masonic Hall, converting it into a band room and renaming it Lyric Hall. Lyric Hall served Oamaru for 25 years. The building has had a variety of tenants over the years. The east wing is currently owned by the Oamaru Repertory Society Incorporated and comprises a theatre complex with stage, backstage, changing rooms and seating. The west wing was occupied by the Ministry of Works and Development until 1983 when it became vacant.

In 2015, the building is occupied by the Oamaru Repertory Society, Musical Theatre Oamaru and other commercial tenants.