The street is largely residential, although the University of Edinburgh owns property in the area. The University of Edinburgh's student union is the location for a venue (also know as the Pleasance) at the Edinburgh Fringe, running mostly comedy shows.
In 2007 there were 21 different performance spaces marketing under the umbrella of the Pleasance. These spaces range in size from the 700 seater Pleasance Grand to the Cellar and Joker Dome, which each seat 50 people.
In addition to the Edinburgh venue, the Pleasance also has a sister venue in Islington, North London, which operates throughout the year. This is named Pleasance Islington, previously Pleasance London.