The land covering this park was part of a grant of 100 acres of land to John Redman in 1808 or 1809, title confirmed in 1812. He named it "John Farm". It was sold soon after Redman's death in 1837, and then sold again in 1846 to Robert and Hugh Scott for 200 pounds. They renamed it "Campsie Farm" after the Campsie Hills in Scotland.
The Scott brothers left Campsie and later returned to Britain. Their land was sold in 1884 to the Anglo-Australian Investment, Finance and Land Company, which speculated on a new railway line being routed through the Campsie area. As the Company had owners in parliament it was confident of this. The company subdivided the land in 1885, as the "Campsie Park Estate" subdivision, with wide streets and large blocks of land. A promotional booklet was produced showing drawings of large houses which the company hoped would be built there. The estate stretched from Campsie Street to Evaline Street, bounded by Loftus Street and the old track to Hannah Laycock's farm which the subdividers named "Beamish Road" after Francis Beamish's farm bordering the estate. Two squares in Anglo Road were centerpieces of the subdivision, Carrington Square and this park, which was originally named Elgin Square.
The hoped for railway did not eventuate and the Campsie Park Estate only sold a few blocks of land before the 1890s financial depression. In 1892 the government decided to proceed with the railway to provide unemployment relief. The Sydenham to Belmore line was opened in 1895 with a station named Campsie after the Campsie Park Estate subdivision. This also gave its name to the suburb. The railway came too late to save the Anglo Australian Company, which folded in 1895.
Elgin Square was dedicated as Anzac Square during World War 1, in memory of men of Canterbury who had died in the war. There is an inscription in their memory on the rotunda.
The Square and rotunda complemented the memorial clock tower built in 1932. There was also a memorial rose garden and a memorial fountain along with a World War 1 cannon in Anglo Road. There was a flag pole and pillars in the square which were removed in the 1950s.
By the 1962 the rotunda was dilapidated and for some years Council considered demolishing it and replacing it with a more modern structure. Eventually Council decided to restore the rotunda.
The local federal member of parliament, Mr Leslie Haylen MAR applied for permission for the Leader of the Opposition, Han Arthur Calwell, to speak from the band rotunda at an electioneering meeting held two days before the closely fought 1961 election. Permission was given by Council.