It faces the Aon China Building (怡安華人行) and overviews Pedder Street.

Completed in 1846, the first building on the site was the first generation of the Hong Kong Club.

After the club moved to its current location at 1 Jackson Road in 1897, the building turned into commercial use, the largest tenant was Yee Sang Fat.

The theatre opened to business on 31 March 1931 with Ernst Lubitsch's Monte Carlo.

[6] In November 1996, Hysan Development Holdings agreed to buy the building from Chinese Estates Holdings, for $3.64 billion, an average price of about $17,300 per sq ft.[7] In 2005, Hysan announced that it would sell the building for $2.7 billion.