Opened as a new studio theatre of the Abbey Theatre and named after its walls painted in 'Peacock Blue'. It opened with performances of From Morn to Midnight by George Kaiser, translated by Ashley Dukes. The production was staged by The New Players, an independent company. The Peacock Theatre would provide a home for the Abbey School of Acting classes and performances, the Abbey School of Ballet and a rental space for the wider Dublin Theatre community from 1927 to 1951.