The Sadler's Wells site has been occupied by six different theatres since 1683. The first 'musick' house was built by a Mr Sadler, who also opened a fashionable spa there after rediscovering monastic springs believed to have medicinal properties. The spa declined in popularity but the theatre has survived through the centuries in many forms, including as an aquatic theatre staging patriotic plays in the early 1800s, a music hall showcasing acts such as Marie Lloyd and Harry Champion in the late 1800s and a drama, opera and ballet theatre in the 1930s and 1940s. The current theatre, which opened in 1998, is dedicated to international dance. It consists of two performance spaces: a 1,500-seat main auditorium and the Lilian Baylis Studio, with extensive rehearsal rooms and technical facilities also housed within the site. Sadler's Wells is renowned as one of the world's leading dance venues. As well as a stage for visiting companies, the theatre is also a producing house, with a number of associated artists and companies that produce original works for the theatre. Sadler's Wells is also responsible for the management of the Peacock Theatre in the West End, during times not used by the London School of Economics.