Young Vic reopens ... plus reader offer: save 50% on Cut Price Card

"Tonight is the culmination of two dreams" said artistic director David Lan in his message on the programme's first page. "Of Frank Dunlop's when he founded the theatre in 1970 and ours when we took the decision in 2000 not to let the crumbling, temporary, time-torn structure fall down."

The entrance remains the tiled butcher's shop still recalled by old customers. The name remains over the doorway.

A fanfare silenced the audience waiting in the new foyer for a welcome from the theatre board's Patrick McKenna.

Arts Council chair Sir Christopher Frayling said it was "terrific to be home and find enough of the old Young Vic and enough of the new Young Vic" in the building by an amazing architect.

"It's the best value of any rebuilt in the last forty years and a new cultural landmark."

David Lan, who received long applause, praised the architect Steve Tompkins and his team.

Among others present were London Assembly member Val Shawcross, Southwark Council leader Nick Stanton, Coin Street boss Iain Tuckett, residents living in and around The Cut and relatives of the cast also living in Lambeth and Southwark.

The opening show, Tobias and the Angel, continues until 21 October.