In 1973 it was renamed the Albery Theatre in tribute to Sir Bronson Albery who had presided as its manager for many years. Since September 2005, the theatre has been owned by Delfont-Mackintosh Ltd. It underwent major refurbishment in 2006, and was renamed the Noël Coward Theatre when it re-opened for the London premiere of Avenue Q on 1 June 2006. Noël Coward, one of Britain's greatest playwrights and actors, appeared in his own play, I'll Leave It To You, at the then New Theatre in 1920, the first West End production of one of his plays.
The theatre seats 872 patrons on four levels. The building is now a Grade II Listed structure.
After opening in 1903 with a production of Rosemary starring Charles Wyndham and his wife, Mary Moore (3 July 1861 – 6 April 1931), the Noël Coward Theatre has hosted a number productions. I'll Leave it to You, in 1920, was Coward's first play. George Bernard Shaw's St. Joan with an acclaimed performance by actress Sybil Thorndike ran in 1924.
In the 2000s the theatre has played host to several Shakespeare productions including a production of Twelfth Night set in India with an entirely Asian cast. The production played to packed houses and only closed as the Royal Shakespeare Company themselves had exclusive rights to perform their annual London season of Tragedies there. Between December 2004 and April 2005, they presented Hamlet, Romeo & Juliet, Macbeth, King Lear and a brand new production of Euripides' Hecuba starring Vanessa Redgrave.
On 8 June 2005, Dion Boucicault's Victorian melodrama The Shaughraun opened; however, its success at the DublinGate Theatre was not repeated in London and it closed on 30 July. A dark period of around three months followed before the theatre was transferred to the ownership of Delfont Mackintosh Limited and reopened in October 2005 with The Right Size's new production Ducktastic!. Once again this failed to live up to expectations and closed just three weeks after opening on 19 November 2005. A short Christmas season of Patrick Stewart's one-man version of Charles Dickens' A Christmas Carol played from 6 to 31 December 2005, before the theatre hosted the Edinburgh International Festival hit drama Blackbird starring Roger Allam. The award-winning play Enron (directed by Rupert Goold, starring Samuel West and Tim Pigott-Smith) transferred here after a sellout run at the Royal Court. The European premiere of the Broadway hit, Avenue Q, started previewing on 2 June 2006 and had its opening night on 28 June 2006, finally closing on 28 March 2009 prior to transferring to the Gielgud Theatre.