The Globe Theatre on Stockton High Street as it stands today
The Beatles, The Rolling Stones, Buddy Holly and Cliff Richard have all played the venue on Stockton High Street.
Originally built as a cinema in 1913, the building is still renowned for its art-deco architecture.
It was last used as a bingo hall before closing its doors in 1993.
Now, property development company Jomast, has submitted a planning application to bring it back to being a live venue with an audience capacity of 2500.
Back in it's heyday the Globe attracted big acts
Jomast's plans include a multimillion pound restoration which will retain all major elements of the existing building, as well as upgrading and installing new seating, catering and washroom facilities.
The plans also includes extending the venue and converting an adjacent vacant property into a modern bar and bistro.
Jomast Managing Director, Stuart Monk, said:
"The Globe is a very impressive and iconic building and we intend to completely restore it and bring it back to its former glory.
"Our development plans are substantial but if granted, The Globe could once again be at the forefront of the region's music scene and play an integral part in the revival and regeneration of Stockton town centre."
Richard Poundford, Stockton Council's Head of Regeneration and Economic Development said:
"Proposals to redevelop The Globe Theatre will certainly be good news for Stockton as the former glory and success of the venue has been of interest to many people for a number of years.
"It will raise the profile of the area and bring more visitors and spend to the region.
"It will integrate well with the live music scene already happening at a variety of levels at venues such as ARC, The Georgian Theatre, Middlesbrough Town Hall and events like Stockton's annual Fringe Festival and Middlesbrough Music Live."