In 1969 the former Wesleyan Methodist chapel was bought by Gay Sagar-Fenton who donated it to a local charity, Penzance Arts Centre, to enable them to run it as a theatre. In 1987 the trustees of Cornwall Theatre Company Ltd., a small scale touring theatre company, took over the assets and liabilities of the Penzance Arts Centre. Their aim was to increase and expand the audiences by injecting a new enthusiasm for the arts into the community and widening the spectrum of arts provided.
In June 1996 the Acorn Arts Centre was awarded a significant grant from the National Lottery to undertake essential refurbishment of its premises and re-design the internal layout including improved access. Building works were completed in 1998 and the Acorn Arts Centre re-opened as a flexible venue with a 170-seat main theatre and a smaller basement bar/theatre with a 80 seat capacity.
After a brief period of closure in 2010, The Acorn Theatre has come back to life and once more occupies a vital place in the community as the main centre for music, theatre, dance and other live arts in West Cornwall. (The Acorn)