 It is classified by the National Trust of Australia and is listed on the Victorian Heritage Register.Purchased in 2000 by Mike Walsh, the theatre was restored and refitted to accommodate larger productions.The first recorded use of the area near the corner of Stephen (now known as Exhibition) Street and Little Bourke Street as a venue for entertainment was in 1880, when tiered seating was constructed and an openair venue for circuses and equestrian shows established.