It was named after the food market which had been established in Clement's Inn Fields, by John Holles, 2nd Earl of Clare.
He inherited the Manor of Tyburn, or Marylebone, from his mother's family and sold it in 1710 to John Holles, 1st Duke of Newcastle.
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Denzil was the final Baron Holles, at which time the estates devolved on a cousin, John Holles (1662–1711), 4th Earl of Clare and Duke of Newcastle.
He left the bulk of the estate to his grandson William (grandfather of John Holles, 1st Earl of Clare).