IO Performance is the project of Tasmanian theatre stalwarts Grace Roberts and Chris Jackson.

The pair purchased a historic building at 180 Cimitiere Street late last year, and have converted it from offices into a grand theatre venue in under four months.

Their first show, Iron, tells the story of a mother and daughter trying to "break through the barriers of time, memory and punishment".

"Josie is seeing her mother Fay for the first time in a while - she's never walked into a prison before, and she's been putting it off for fifteen years," the play's promotional materials read.

"Fay is serving life for murdering her husband with a kitchen knife. Her daughter needs to figure out why she can't remember anything that came before that terrible night, why her own mother would kill her father.

"Uncovering the memories they share is going to be more perilous than either of them can imagine..."

The script of the play was first published by multiple-award winning Scottish playwright Rona Munro in 2002.

It was called "quietly impressive...with hidden depth" and "very canny ... no simple prison drama" in a four-star review in the Guardian, while the British Theatre Guide Review enthused: "Like all of the best drama, Iron resonates and will stay with the viewers long after they have left the theatre."

The IO Performance rendition will be directed by Imogen Kalisch, a 2016 University of Tasmania theatre graduate.

Fay, the mother, will be played by Don College theatre teacher and playwright Michelle Best, with Josie to be portrayed by Lauren Neal.

Thankfully, Best said that the character of Fay - a murderer - was difficult to relate to.

The complex, wounded and wounding character therefore presented a satisfying challenge for her as an actress.

"Fay has a lot of dialogue," she said.

"Some of it is raw and brutal, but it is well written and imbued with humanity."

For Best, the appeal of Iron partly lay in its robust themes - of crime, punishment, the effects of institutionalised living, the strength of love, and the complexity of female relationships, explored through one estranged mother and daughter.

"It is a powerful and ultimately deeply moving ensemble piece - which will challenge, entertain and emotionally affect an audience," she said.

"The play moves in surprising ways and takes unexpected directions, twists and turns - an emotionally honest and socially resonant theatrical experience."