The Grade II listed building was built in 1930 with interiors in the Art Deco style as the Whitehall Theatre; it regularly staged comedies and revues.

In 1942, The Whitehall Follies, featuring Phyllis Dixey, the first stripper to perform in the theatre district, opened with great fanfare and became an immediate success.

A series of five long-running farces, presented under the umbrella title "Whitehall farce" by the actor-manager Brian Rix, were staged at the theatre from 1950 to 1966: Reluctant Heroes, by Colin Morris (1950–54); Dry Rot, by John Chapman (1954–58); Simple Spymen (1958–61); One For the Pot, by Ray Cooney and Tony Hilton (1961–64); and Chase Me, Comrade, by Cooney (1964–66).

[2][3][4] The building was acquired in 1971 by Paul Raymond who was producer of a nude review that had opened there in 1969 called Pyjama Tops, it ran for five years after which productions including Ipi Tombi and Anyone for Denis?

Subsequent productions included When I Was a Girl I Used to Scream and Shout by Sharman Macdonald, The Importance of Being Earnest, The Foreigner, Run For Your Wife, Absurd Person Singular, Travels with My Aunt, tributes to Patsy Cline, Roy Orbison and the Blues Brothers, and solo performances by Ennio Marchetto and Maria Friedman.

It returned to theatrical use, with such productions as Three Sisters, Puppetry of the Penis, "Art", Rat Pack Confidential, and Sing-a-Long-a-ABBA, before its owner, the Ambassador Theatre Group, announced the building would be reconfigured and reopen with a new name.

[5][6] After 2004, Trafalgar Studios presented short runs of revivals of classic plays and musicals, including Sweeney Todd (2004); Losing Louis (2005); a season by the RSC repertory season, from December 2005 to February 2006, of plays including Sir Thomas More, Sejanus: His Fall and Believe What You Will; an adaptation of Jane Eyre by Polly Teale (2006); Bent (2006–07); Elling (2007); Dealer's Choice (2007–08); Fat Pig (2008, transferring to the Comedy Theatre); Entertaining Mr Sloane (2009) and A Christmas Carol (2010–11).

The venue closed earlier than expected in March 2020 due to the COVID-19 pandemic, and building work on the theatre began in the summer.