Built on the University College campus as a twin auditorium house, with substantial financial support from the University. Externally a red brick building having the appearance of being made up of three box-like elements with the tallest on the left, and the lowest in the centre. Modifications have taken place to the entry which has a large arched window over and is flanked by two ‘sentry box’ structures in bronze and glass.
Internally the main house has a single rake of sixteen rows facing the unstressed proscenium stage. There is a grid of 34 single purchase counterweight lines. The get-in is 7ft above street level with room for only one truck at a time. The Arena Studio is an octagonal auditorium built within a square box with a permanent balcony, designed with flexible seating for theatre-in-the-round.
In July 1987 University College Cardiff withdrew its financial support for the theatre and offered it for sale. The Welsh Arts Council purchased the building with a special grant from the Welsh Office and for a time there were problems with revenue funding.
In 2007 the Sherman Theatre and Sgript Cymru joined forces and became Sherman Cymru, a theatre devoted to producing and presenting both English and Welsh language works.
In 2009 Arts Council Wales awarded £4.6m in Lottery funding as a major part of the Sherman's £6.5m refurbishment project. Completed in February 2012, the theatre reopened with a new façade, major reconfigurations of the front of house and backstage spaces, a new rehearsal room, and reseating in both auditoria.
2012 Alteration: Re-opened after completion of a £6.5m refurbishment project.