"Wealthy socialite Mrs. [Marcellus Ayers] and her friends" organized the conversion in 1914 of church into cinema;Clarence Blackall designed the renovation. It "could accommodate 900 patrons." Proprietors and overseers included Viola and Florence Berlin, and Neil St. John Raymond.
After the theatre closed in 1984 amidst popular cultural anguish and bottom-line real-estate concerns, the building has been deployed for a variety of mostly commercial purposes. It was occupied by Conran's housewares retailer and Waterstones booksellers. By 1988 "the Exeter Street Theatre building [housed] Friday's Restaurant and an office complex." Business consultants Idealab leased space in the building from 2000 to 2003. In 2005 it became the Kingsley Montessori School.
One of the cinema's electric signs, scrapped in 1985, was acquired by collector Dave Waller.
John Cheever's short story "The President of the Argentine" mentions the Exeter Street Theatre.