The Dominion Theatre's General Manager David Pearson said it had been a privilege to have hosted We Will Rock You for the past 12 years, adding:
"To have the show rocking the Dominion and seeing a standing ovation night after night has been quite amazing.
"We wish the show every success for the future, as we now prepare to accelerate our restoration and refurbishment programme ready to welcome an exciting new production in 2015."
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The plaque at number 16 Cowley Street in Westminster marks the brown brick Georgian townhouse where Sir John lived for 31 years.
A man reportedly armed with several knives has been arrested in Whitehall on suspicion of planning a terror attack, police have said.
Metropolitan Police officer, Tom Harrison, has been crawling the course since the race began on Sunday morning.