Named after the actress Yvonne Arnaud, it presents a series of locally produced and national touring productions, including opera, ballet and pantomime.

[1] Replacing a former repertory theatre in North Street which had been gutted by a fire in 1963,[2] the present complex was opened in 1965 in a riverside site, incorporating a restaurant and bar available to non-theatregoers.

[3] The company opted to dispense with traditional repertory theatre in favour of a more flexible model in which actors are cast as appropriate to different productions.

A removable apron stage section allows for an orchestra pit for 22 musicians or an extra two rows of seats as required.

[citation needed] A youth department offers regular productions in the Mill Studio and an annual summer musical on the main stage.

[1] In 1997, a National Lottery grant was used to upgrade the facilities, enabling expansion in audience capacity and the range of productions presented.