In October 2013 the BBC reported on issues with the building.
The Theatres Trust warned that the building "may fall down" if it did not receive any investment, but the current owner Balwant Singh Cheema of Swansea Palace Theatre Company Ltd (based in Gravesend, Kent) had not invested in the building following their takeover, and refused to comment on the piece.
Swansea Council cabinet member for regeneration Nick Bradley told the BBC that renovation would be very expensive, and as a result any Council or Government intervention was unlikely.
He warned that regarding costs of redevelopment, "£1m wouldn't even touch it."

In 2014, a new campaign for redevelopment of the site was launched on Facebook.

In April 2014 Swansea Council made £75,000 available to the owners to carry out work on the High Street theatre, which had been named as one of the 10 most endangered Victorian and Edwardian buildings in England and Wales.
The Victorian Society called it "a victim of urban decay".
The council funds were earmarked for "emergency works", including making the building watertight, removing vegetation and removing loose brickwork that could be deemed “unsafe”.
By September 2014 the council issued a reminder to the owners that the work needed to be completed promptly.


In 2018 the derelict theatre was identified as having become "at the hub of the city's street sex trade", after residents of High Street complained that they were no longer able to walk past the building in safety.

In July 2019 the future of the theatre was discussed as part of a public "Emergency Summit", organised by Swansea Council, South Wales Police, Geraint Davies MP, and voluntary sector organisations.
The summit was prompted after a spate of incidents in the city including an assault on 20 July on High Street which saw the death of a 54 year old man.
The city centre is witnessing investment and construction including two new schemes which will house an additional 1,000 students, but Swansea Council has stated it is yet to secure a development partner for the currently privately owned Theatre.
According to the Theatres Trust it remained "in a poor state of repair and extremely vulnerable", although developments "provided hope that a viable solution, which includes community use and preserves the main body of the auditorium, could be found".

In September 2019 the Mid and West Wales Fire and Rescue Service were called out to the theatre amid reports of smoke at the building, emitting from the ground and fourth floor windows.
Responders dealt with a fire, but did not initially comment on whether the incident was unsuspicious.
Late 2019 and early 2020 saw a plan emerge to save the former theatre.
The plans would see it transformed into offices with community and performance space provided.
As of 12th February 2020, only interior surveys have been carried out.
In October 2013 the BBC reported on issues with the building. The Theatres Trust warned that the building "may fall down" if it did not receive any investment, but the current owner Balwant Singh Cheema of Swansea Palace Theatre Company Ltd (based in Gravesend, Kent) had not invested in the building following their takeover, and refused to comment on the piece. Swansea Council cabinet member for regeneration Nick Bradley told the BBC that renovation would be very expensive, and as a result any Council or Government intervention was unlikely. He warned that regarding costs of redevelopment, "£1m wouldn't even touch it."
In 2014, a new campaign for redevelopment of the site was launched on Facebook.
In April 2014 Swansea Council made £75,000 available to the owners to carry out work on the High Street theatre, which had been named as one of the 10 most endangered Victorian and Edwardian buildings in England and Wales. The Victorian Society called it "a victim of urban decay". The council funds were earmarked for "emergency works", including making the building watertight, removing vegetation and removing loose brickwork that could be deemed “unsafe”. By September 2014 the council issued a reminder to the owners that the work needed to be completed promptly.

In 2018 the derelict theatre was identified as having become "at the hub of the city's street sex trade", after residents of High Street complained that they were no longer able to walk past the building in safety.
In July 2019 the future of the theatre was discussed as part of a public "Emergency Summit", organised by Swansea Council, South Wales Police, Geraint Davies MP, and voluntary sector organisations. The summit was prompted after a spate of incidents in the city including an assault on 20 July on High Street which saw the death of a 54 year old man. The city centre is witnessing investment and construction including two new schemes which will house an additional 1,000 students, but Swansea Council has stated it is yet to secure a development partner for the currently privately owned Theatre. According to the Theatres Trust it remained "in a poor state of repair and extremely vulnerable", although developments "provided hope that a viable solution, which includes community use and preserves the main body of the auditorium, could be found".
In September 2019 the Mid and West Wales Fire and Rescue Service were called out to the theatre amid reports of smoke at the building, emitting from the ground and fourth floor windows. Responders dealt with a fire, but did not initially comment on whether the incident was unsuspicious. Late 2019 and early 2020 saw a plan emerge to save the former theatre. The plans would see it transformed into offices with community and performance space provided. As of 12th February 2020, only interior surveys have been carried out.
Palace Theatre, Swansea