Hall hands over his Rose

The veteran director, who has been in charge for the last five years, will become director emeritus.

Stephen Unwin, who was a young director at Cambridge University when Sir Peter championed him, will take over the day-to-day management as artistic director in April after 15 years running English Touring Theatre.

He is already closely involved and attended the first preview performance in the 900-seat auditorium last week, when the audience broke into spontaneous applause as the lights went down.

The £11million venue in Kingston was built on the model of the famous Elizabethan original. The official opening is on Friday with Sir Peter's production of Chekhov's Uncle Vanya, starring Neil Pearson and Nicholas Le Prevost.

A delighted Unwin said: "It's the best new theatre built in the last 40 or 50 years. I think it's an absolute miracle.

"I think the Rose will become a fundamental part of the London theatre ecology. It's in the middle of the biggest catchment area in Europe. It needs to be both for the local community but also for London as a whole."

With no Arts Council or Lottery funding for ongoing costs, running the building will require a major fund-raising effort. "It's going to be a challenge," said Unwin. "But when people walk in here there's this wow factor and I think that's going to attract supporters.

"If we're clever, which we had better be, we can make this work. Peter's presence is incredibly useful." Sir Peter said: "For the last five years my single aim has been to see the Rose Theatre completed and open. This is finally a reality and is therefore an appropriate moment for me to pass the director's baton.

"Stephen Unwin's appointment as artistic director is a wonderful development."-The idea of the theatre was introduced in 1986 by local councillors and Kingston residents.

The shell was built as part of a development and completed with support from Kingston council and Kingston University among others.