By the time Stockport Plaza Trust took over in March 2000, the building was very close to sustaining severe damage.  During the two years that the building had been empty, deterioration had allowed dry rot to take hold in the roof and basement.  Water was leaking through ceilings in the auditorium and backstage and a section of elaborate plaster decoration was found to be collapsing.  Stockport Metropolitan Council not only provided a grant of £450,000 for the purchase of the building but also gave a grant of £50,000 towards emergency repairs, which began immediately and the building shell has now been stabilised.

Conversion from bingo hall to cinema and theatre was undertaken by Friends Of The Plaza, who plastered and decorated walls, undertook electrical work, installed stage equipment, sound and lighting.  600 seats were donated by a Manchester theatre and installed in the circle.  A large dedicated team of volunteers stripped old upholstery and repainted seat irons and woodwork.  Dressing rooms were adopted by local organizations while the support of local businesses and individuals was critical to the project. 

Cinema equipment has been reinstalled into the long disused projection box, some of which is similar to the original 1932 installation. The photo below is a post-war Kalee 20 projector but the Western Universal base, on which the projector sits, is an authentic 1930’s item.  The photo to the right shows the authentically restored 1948 Westar projectors on Western Electric 2002 Sound Heads.  is still on the lookout for two Kalee 8 Indomitable Projectors, as used at the time of its opening.

Following the realisation that many previously hidden features still existed, was upgraded to Grade II* Listed status in 2000 and is now one of just a handful of Grade II* Listed cinema buildings in operation in the UK.

The demands of today's audiences and performers are very different from those of the 1930s. Not only have statutory duties, in relation to Health & Safety, Licensing, Fire Certification, Building Controls and Disability Discrimination come into force, the expectations of comfort, including seating, toilets, lifts, refreshment areas, sight lines, acoustics, heating and ventilation have vastly changed. Over two phases, will be accurately restored inside and outside to its 1930's splendour and detail but incorporate the facilities demanded in the 21st century for the benefit of local, regional and national communities. 

The first phase of the Lottery bid will focus on:

• the external façade and fabric to include the restoration of the glazed white-grey terracotta frontage, the restoration of windows currently boarded up, the reconstruction of the veranda and replacement of the neon lighting on the main façade.
• the front of house: to include the installation of a lift, to be sensitively incorporated within the restored foyers, to provide wheelchair access to the stalls, basement and restored café at first floor level and the modification of the basement area to provide an administration office and new fully accessible toilets
• mechanical and electrical improvements

also features in Stockport Metropolitan Borough Council’s (SMBC) ongoing town centre regeneration strategy.  Alongside local heritage attractions, such as The Air Raid Shelters and The Hatworks, SMBC has expressed the view that a thriving PLAZA will assist with the development of the town centre’s evening economy.  In fact, could become an integral part of the new town “plaza” under an ambitious £500m town centre revamp.  SMBC has unveiled an architect’s concept of how a redeveloped town centre could look in the future and , taking up one end of Mersey Square, is obviously an important part of the Council’s proposals.