Her Majesty's Theatre provided the first alternative to the Theatre Royal, Drury Lane, built in 1663 and the Lincoln's Inn, founded in 1660 (forerunner of the Theatre Royal, Covent Garden, built in 1728). The theatre's site is the second oldest such site in London that remains in use. These three post-interregnum theatres defined the shape and use of modern theatres. The land for the theatre was held on a lease renewable in 1740 and was ultimately owned, as it is today, by the Crown Estate. Building was delayed by the necessity of acquiring the street frontage, and a three bay entrance led to
Her Majesty's Theatre designed the Commonwealth Institute. In 1995, this too was Grade II listed as a fine example of 1960s architecture. The 200-year-old Royal Opera Arcade, built by Nash and Repton, is all that survives of the second theatre and is the earliest example of a London arcade. The current theatre opened on 28 April 1897. Herbert Beerbohm Tree built the theatre with profits from his tremendous success at the Haymarket Theatre, and he owned, managed and lived in the theatre from its construction until his death in 1917. For his personal use, he had a banqueting hall and living room installed