It's 1846. Sweeney Todd (George Hearn) and Anthony Hope (Cris Groenendaal), greeted only by a crazed beggar woman (Sara Woods), sail into London, where Todd implies he has been before, but not in quite some time.
Todd heads to his old stomping grounds of Fleet Street, where he runs across the pie shop belonging to Mrs. Nellie Lovett (Dame Angela Lansbury), who professes to make the worst meat pies in London due to the high cost of meat.
Todd comes to an agreement with Mrs. Lovett to rent the upstairs of her building so that he can open his own barber shop. A series of incidents, including one with rival barber Señor Pirelli (Sal Mistretta), make Todd change his focus slightly away from having a choice encounter with Judge Turpin and his equally sadistic henchman Beadle Bamford (Calvin Remsberg), which was one of the reasons he returned to London.
Meanwhile, upon sighting each other, Anthony and Johanna Barker (Betsy Joslyn) fall in love at first sight. Johanna is now the ward of Judge Turpin, who has his own incompatible wants with her.
Todd and Mrs. Lovett's collaboration, as well as Anthony's pursuit of Johanna take marked turns with several revelations, most specifically about the crazed beggar woman and Mrs. Lovett's motivations.