The following brief history is from a comment here:
The Picture Palace opened on 25th February 1911. It was designed by local architect John R. Wilkins. It operated until the early 1920s when it was closed and became a furniture store, retaining the original 'Picture Palace' sign on the front of building until around 1950.The cinema will be celebrating its centenary in 2011.
It re-opened as the Penultimate Picture Palace on 18th July 1976. Oxford artist John Trigg designed the exterior name on the facade from a 1896 French poster. Above the name board was the cinema's motif: a giant cut-out of Al Jolson with hands outstretched as seen in the first talkie "The Jazz Singer" (the fibre glass hands were designed by sculptor John Buckley who also designed the new door handles shaped as Mae West's lips!). The original 1911 pay box was retained. Seating capacity was given as 192. It now operates as the Ultimate Picture Palace, an Art House cinema.
(A recent photo)(A review)