Built 1874 by Thomas Verity on the former site of the old St James's Market and the Mitre Tavern. Originally planned as a concert hall within a restaurant complex, it was soon decided to build a full-fledge theatre. First theatre in London to be built completely below ground level. Opened 21 Mar 1874. 1878 extension, 1884 rebuilding by Thomas Verity. 1903 renovations. During World War II used for radio broadcasts by the BBC. 1985 severely damaged by a flood. 1992 alterations of backstage area and bars by RHWL. Since 1996, used for performances of "The Complete Works of William Shakespeare (abridged)", performed by the Reduced Shakespeare Company. 600 seats.