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The Royal Princess Theatre was opened on 31st August 1874. The cost of the building was £12,000 with a capacity of 2,000 people. The building was designed by William Charles Vahland.
The site was at the corner of View Street and McKenzie Street, with the frontage facing View Street. The auditorium was on three levels and seated 650 in the pit (rear stalls), 200 in the stalls, 250 in the dress circle and 850 in the gallery. A further 50 were seated in the six stage boxes.
The frontage of the theatre was 80ft wide x 60ft, which inside the auditorium the proscenium was 30ft wide by 18ft high. The stage was 56ft deep. Stage lighting at the time was by gas until the Electric Supply Co, of Victoria Ltd. had DC power available in 1898. The theatre was described as comparable to anything Drury Lane in London had to offer.