A group of investors led and advised by Quinlan Private has agreed to sell London's Savoy Theatre for an undisclosed sum to the Ambassador Theatre Group and the Tulbart Group.
The theatre was among the assets bought in 2004 by the Quinlan Private when it acquired The Berkeley, Claridges, The Connaught and The Savoy hotel.
The group said the Savoy Hotel earlier this year but said it was keeping the other three as long term investments for the group.
The Savoy Theatre was first opened in 1881 and situated on the River Thames, the famous Savoy Hotel was built opposite eight years later.
The hotel and theatre were funded almost exclusively by profits generated by Gilbert and Sullivan operettas.
Chairman of Quinlan Private Derek Quinlan said: "The Savoy Theatre was not a core property for our investors and we are pleased to have an opportunity to realise further value.
Mr Quinlan said: "The theatre is a remarkable part of London's cultural heritage and we are delighted to have passed its stewardship to a most appropriate owner."