Opened in 1926, it has not been used since 1992, but as of 2020 there were active plans to construct a new theatre on the site, incorporating elements of the existing building.

The Teatro Variedades is located in the Parque Mayer in Lisbon, close to the Avenida da Liberdade.

Its construction was first considered in 1922 by the entrepreneur Luís Galhardo [pt], and building began two years later, under the direction of the architect Urbano de Castro.

[1][2][3] The theatre was inaugurated on 8 July 1926, with a variety show called Pó de Arroz (Rice Powder), with a cast that included Vasco Santana, as the main attraction and Augusto Costa as the compère.

Some renovation was carried out at the beginning of the 1990s and Teatro Variedades was used for a 26-part RTP (Rádio e Televisão de Portugal) series of variety programmes in 1992, directed by Filipe La Féria, with a range of guest artists who had distinguished themselves in some of the shows at the theatre, in addition to a fixed cast with younger performers.