The vacant storefronts in Perth CBD’s Piccadilly Arcade look sad, but there is good news: work will start in January on a major heritage-friendly facelift that will reopen the old cinema as a live performance theatre.

Tenders have closed for a builder to complete the long-awaited multimillion-dollar redevelopment of the art deco arcade and cinema, built in the 1930s.

Architects are still working on finishes which need to be approved before the building licence is issued. This is anticipated to happen over the next month.

Palassis Architects, a heritage specialist involved in conservation and redevelopments such as those at the Old Treasury Buildings, St George’s Cathedral and Brookfield Place, has overseen the applications and the owners are in the process of deciding, confirmed spokesman Terry Posma.

The old cinema will be converted into a live performance theatre with a lounge and bar, operated by Claremont-based Mellen Events, known for events such as A Day on the Green, Summadayze, Live at the Quarry and the Ord Valley Muster.