Seven Dials is a small but well-known road junction in the West End

West End of London

The West End of London is an area of central London, containing many of the city's major tourist attractions, shops, businesses, government buildings, and entertainment . Use of the term began in the early 19th century to describe fashionable areas to the west of Charing Cross...

 of London

London

London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...

 in Covent Garden

Covent Garden

Covent Garden is a district in London on the eastern fringes of the West End, between St. Martin's Lane and Drury Lane. It is associated with the former fruit and vegetable market in the central square, now a popular shopping and tourist site, and the Royal Opera House, which is also known as...

 where seven streets converge. At the centre of the roughly-circular space is a pillar bearing six (not seven) sundials, a result of the pillar being commissioned before a late stage alteration of the plans from an original six roads.

The term also refers informally to the immediate surrounding area.
The landed estate belongs to the Worshipful Company of Mercers

Worshipful Company of Mercers

The Worshipful Company of Mercers is the premier Livery Company of the City of London and ranks first in order of precedence. It is the first of the so-called "Great Twelve City Livery Companies". It was incorporated under a Royal Charter in 1394...

 which allowed building licences on what was open farmland to maximise their income in what was the burgeoning West End

West End of London

The West End of London is an area of central London, containing many of the city's major tourist attractions, shops, businesses, government buildings, and entertainment . Use of the term began in the early 19th century to describe fashionable areas to the west of Charing Cross...

 of the developing metropolitan area.