The first theatre on the site was built in 1867 by the architectural practice of Clarke & Bell.

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Fire destroyed the interior.

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The building was rebuilt in 1880 by C. J. Phipps, reusing the surviving exterior walls.

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It was reconstructed by Phipps largely to his previous design.

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It was converted to television studios.

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Derek Sugden of Arup Associates renovated the theatre as an opera house in 1974–5 and it continues today as the home of Scottish Opera, as well as hosting a variety of other types of productions. The magnificent auditorium with its delicate neoclassical plasterwork has been carefully restored.

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