Old Vic Tunnels, the not-for-profit performance space run by the Old Vic beneath Waterloo station, has announced it will close next month.

A statement on the Old Vic Tunnels website reads: "Our time at the Tunnels will draw to a close on 15 March. The Tunnels was an adventurous and exciting project which started as a temporary event and performance space in 2009 with the inaugural show Tunnel 228.

"Since then, The Tunnels earned a reputation as one of the most creative spaces in London. We have three great years to look back on, and are proud of the remarkable range of events and productions that we have presented in the space."

Tunnel 228 was titled after British Rail's name for the space, which had been inactive for 30 years, and was produced in collaboration with Punchdrunk. Sponsored by Bloomberg, it saw the release of 15,000 free tickets and inspired the Old Vic to take over the space full time.

Old Vic artistic director Kevin Spacey commented at the time: "The Old Vic is thrilled to be developing plans for this incredible space, where exciting performances and creative collaborations will feature throughout the year. Inspired by the success of Tunnel 228, this epic space beneath Waterloo Station will again host memorable experiences for visitors."

Other productions in the Tunnels have included epic community projects Platform and Epidemic and Fiona Shaw's acclaimed performance of The Rime of the Ancient Mariner. It's currently hosting a revival of Jason Robert Brown's Parade, which finishes on 27 February.