The old Academy of Music building, next door to Blundell's Emporium, was taken over for the new theatre by Tasmanian Amusements Pty Ltd, and underwent a transformation with extensive remodelling designed by architect Hubert S East.

Removing part of the stage provided extra seating and the dress circle had special lounge armchairs installed.

The ceiling was painted in pink, cream, and gold, while outside the colour scheme was green and cream, with a cantilevered verandah added.

The sound system was the first of its kind in Tasmania and included the latest invention - auditorium volume control.

The Examiner reported the lighting system would "be a revelation to Launceston patrons".

The pièce de résistance was a nine-foot-high crystal chandelier suspended from the dome, costing 1000 pounds and imported directly from Paris.

Three men from Melbourne fixed the 10,000 pieces of Baccarat crystal to the main stem of the chandelier.

Sixty-five electric globes could be dimmed to pinpoints, casting a soft diffused light over the interior of the building.

On opening night Mayor AW Monds said that "The huge chandelier was a thing of delight."

In 1936 Holyman's new office building replaced Blundell's Emporium. A year later the Plaza's regular programs were screened at the National Theatre while the old Academy building was completely re-built, except for the eastern wall.

The building was demolished by the middle of May 1937. Relics salvaged from under the stage included a 1908 copy of The Examiner, old sheet music and an ancient leather fire bucket.

Despite the Oregon timber beams being as good as new, ten massive girders shipped from the mainland - the largest at 60 feet - replaced them, with traffic in George Street diverted while they were swung into place.

The crystal chandelier was carefully re-hung from the vaulted barrel ceiling of the foyer, and on August 20, 1937 the Plaza Theatre reopened to expectant crowds.

Now seating 913, patrons enjoyed a new air conditioning system, excellent sound equipment, an attractive colour scheme, lighting effects and furnishings and rubber floor coverings providing an atmosphere of quiet luxury.

The Plaza Theatre operated for 31 years under four managers: Harrie Peverill, Jack Thornley, his brother Brian Thornley, and Hugh Quigley.

Ted Mathews was the projectionist from the second show until the last on January 29, 1964, with an audience of 250. Television had arrived.

In February 1964, the Plaza Theatre was once more demolished, this time to make way for a row of six mediocre shops.

The chandelier failed to sell at auction, but a private buyer shipped it to their home in Esperance, Western Australia, where it remains to this day.