It's a $31.5 million vision for Parkes - a regional entertainment and cultural centre that could seat 500 and become a premiere venue in our shire.

Concepts were presented to Parkes Shire Council in May with a feasibility study commissioned by the council earlier this year.

The centre would be an investment in the cultural and social fabric of the region, the council's economic development specialist Katie Nash noted in her report.

"This centre would enhance cultural activity, providing both use and non-use benefits beyond mere economic gains," the report said.

"The centre would serve as a keystone for community engagement, cultural development, social inclusion and civic pride."

Consultants have identified 25 Dalton Street, on the corner of Bogan Street, as the most suitable site for a future entertainment centre, developing options that include keeping the historic building facade.

The council purchased the former Picture Palace Theatre in 2016, it's leased by Generocity Church.

Their vision would cost an estimated $31.5 million to build and fit out.

It is expected that the centre will have an operating cost (excluding depreciation of assets) of $619,900 each year and a total projected revenue is estimated at $508,618.

In receiving and noting the study, staff noted that the council could not currently take on the financial risks associated with such a project but could pursue grant and commercial funding based on the study.

The council secured $150,000 to undertake a feasibility study and engaged Hawkridge Entertainment Services through a tender process to deliver it.

The Feasibility Study has identified the opportunity for cultural infrastructure within the township of Parkes and highlighted the significant economic benefits a well-designed cultural centre could bring.

The Performing Arts Centre is planned to be a well designed area capable to suit any occasion from graduations, dance performances, catered events and educational seminars/lectures.

The proposed centre would include several main spaces including a performance space, meeting rooms, support spaces and building services (general).

A flexible seating arrangement would also be a part of the design with modular stage setups and versatile event spaces a key feature.

The main auditorium outlined in the plan features retractable tiered seating that could be stored at the back of the room, under a balcony connected to the control room.

When the seats are retracted approximately 30 tables of 10 people will be able to fit in the room for functions allowing for 300 seated guests.

There would be standing space for some 850 for concerts.

By incorporating a 11x15m stage size, back of house facilities, accessibility provisions and technical (state of the art sound) the performing arts centre will be providing a high quality centre for the community to enjoy.

The centre aims to mitigate traffic off the bypass by holding special events and eventually becoming a tourist attraction.