R knew all about it. It is the Pop Up Globe Theatre where Shakespearean plays are performed, though not as straight Shakespeare. Shakespeare for the masses, I suppose.
It's a massive construction and clearly has to withstand storms, but it is only temporary. We couldn't get to the other side as it is the ticketed area but I have a feeling it is partly open to the elements. It is not especially cheap to see a performance there, but still, I hope it is successful. You can view some details of the performances here.