Only the vestibule (lower foyer) and back stalls area has been subject to alteration for retail purposes. The exterior above the awning is also intact, as it was after the 1921 alterations (with the former hotel windows "blinded" when the auditorium was extended). It was reported to be in good condition as at 2 June 1999. The Victoria Theatre is a building of State importance. It is the oldest theatre building still standing in New South Wales. It represents an age of silent pictures, vaudeville and early legitimate theatre that no other building can offer in this State - being over 100 years old. It is virtually intact, except for vestibule/back stalls alterations. Demolition of false shop walls may reveal that even these areas remain unaltered. The theatre represents an 1891 facade, an auditorium that is both 1891 and 1921, with extensive backstage facilities. It is an important part of Newcastle's heritage, but also a significant building for NSW. Victoria Theatre was listed on the New South Wales State Heritage Register on 27 August 1999 having satisfied the following criteria. The place is important in demonstrating the course, or pattern, of cultural or natural history in New South Wales. The Victoria Theatre is the oldest theatre building still standing in New South Wales. It represents an age of silent pictures, vaudeville and early legitimate theatre that no other building can offer in this State - being over 100 years old. The Salvation Army screened early Australian-made features here in 1906. The theatre was used by major Australian live theatre companies, J & N Tait, Fullers's, Clay's Vaudeville and J C Williamson's. The place is important in demonstrating aesthetic characteristics and/or a high degree of creative or technical achievement in New South Wales. The Victorian facade is an important part of the Perkins Street streetscape, and one of the city's oldest heritage buildings. The theatre represents an 1891 facade, an auditorium that is both 1891 and 1921, with extensive backstage facilities. The 1921 interior is in a unique simple "modern classical" style of pilastered walls and panelling. The latter is "recilinear" with the exception of small circular panels on the dress circle balcony above frieze of Greek key pattern. The place has strong or special association with a particular community or cultural group in New South Wales for social, cultural or spiritual reasons. The Victoria has been an important cultural, entertainment and social facility for the residents of Newcastle for around 80 years. It is still fondly remembered by many older people for the live shows that were staged there.