The Fortune Theatre is located on the corner of Moray Place and Upper Stuart Street, in the heart of the Dunedin. The theatre lays claim to being the world’s southernmost professional theatre company and is the sole professional theatre group in Dunedin. The Fortune Theatre building is registered as a category I historic place by the New Zealand Historic Places Trust, which recognises its historic and architectural significance.
The theatre is a repertory theatre, and is a regular host of both local and touring shows. It also contains the entrance to a World War II underground bunker. Financial difficulties in 2000 threatened the theatre with closure and forced the sale of the building to the Dunedin City Council. The council currently leases the building back to the Fortune Theatre Trust.