A theatre which has worked in a former chip shop for more than 13 years will close later this year.
But their Shop Front Theatre will be demolished in 2023 as part of a redevelopment so the owners said they will close in November.
Mr O'Connell and fellow artistic director Julia Negus said they plan to continue their work in other ways and "we're excited to start exploring that".
The pair took on the project as they were inspired by a model in Chicago which encouraged audiences to go into a space and meet artists on an equal footing.
"The initial idea was to challenge ourselves as theatre makers," Mr O'Connell added, as they used just the space and actors to tell stories.
Local and regional community and arts groups - including from both Coventry University and the University of Warwick - used the theatre for workshops and acting classes.
Ms Negus said one of their highlights was their Shop Front Festival in 2018.
"Over one weekend we programmed live performances into 38 retail shops, collaborating with city centre businesses to host numerous UK and international artists and performers," she said.
During the pandemic, they used their shop-front windows as exhibition spaces for poetry, film and photography.
The theatre is based in the City Arcade which is scheduled to be demolished as part of the large £400m City Centre South project.
Mr O'Connell said it will be "immensely sad" to see it go but they have their other plans and plan to hold a celebratory weekend from 4 November.