The Fabbricone theatre is located within one of the largest industrial complexes in Prato, just outside the city walls. The structure is located in the current Lanificio Balli, which, since its foundation in 1888, has undergone various changes of ownership over time. The factory was created by the Austro-German company Koessler, Mayer and Klinger with the aim of producing combed fabrics, of higher quality than the traditional recycled carded fabrics from Prato, which until then had been imported from France and Germany. The complex was and still is surrounded by a high border wall, giving the entire place the appearance of a city protected by walls with wide tree-lined avenues. The building constructed was so large that it was affectionately called "Fabbricone".

At a time of expansion of the Fabbricone's spaces, a building was built which now houses the theatre. This place was donated to the Municipality of Prato with the intention of creating an innovative theatre and an experimental research centre.

The first theatrical performance dates back to 1974 with Orestea directed by Luca Ronconi. After this debut, it emerged that the structure could become a real scenic place, an alternative to the classic Italian theatre. The restoration of 2000 integrated the existing structure even more with the old factory that houses it, creating a union between past and present.

The continuous research and experimentation of new theatrical languages places it among the key points of Prato's cultural panorama. Now, Fabbricone continues to be a fundamental space for the productions of the Metastasio Thetre, a permanent theatrical institution in Tuscany.