Construction of the theatre commenced in 1900 and was completed in 1901. The architects were Owen & Ward and the theatre was opened on 27 May 1901 as the Lyceum Theatre on John Bright Street.
The theatre currently seats 1,371 and hosts a busy programme of touring drama, West End shows and stand-up comedy. It was the home of the D'Oyly Carte Opera Company between 1990 and 1997