Architects Gebler Tooth have masterminded the restoration and begun work on the long narrow slice of land alongside where the restaurant will go. Miraculously, they have managed to insert a glass lift to the offices and future bar on upper levels, put in civilised lavatories and some heavy-duty airconditioning plant - all under the eagle eye of English Heritage, while scarcely touching the tiny foyer and original interior, now done out in cream and subdued gold. An exception is a rather intrusive fire-escape lobby, protruding into the space beside the screen. Unavoidable, apparently, but still regrettable.
The Electric is operated by City Screen, which specialises in such small art-house cinemas. With only 240 seats these days - very big, comfortable ones, with even bigger leather sofas at the back for those desiring body contact - it's clearly no economy-class exercise in getting bums on seats. Then again, a number of rock stars have wandered in - Madonna has been mentioned - saying they want to use it for small-scale concerts. It's certainly a great auditorium, virtually square, with that lovely shallow curving ceiling above and the screen surmounted by a classical broken pediment and a gilded globe - the neo-classical theme continued from the pale faience facade outside. Inside, the front rows of seats are removable for live entertainment, so exclusive concerts by stars who usually fill stadiums are by no means out of the question. What with this, and given the roaring trade in the restaurants round about, it might not be such a loss-leader for Simon after all. "I might eat my words, and find that it's making money in a few years' time," he admits, though he doesn't sound too bothered.
The sound system, like the seating, is now state of the art. One problem remains: the screen. Valentin installed a big one for 1910 which is just fine for historic films and made-for-TV movies, but it is the wrong format for today's wide-screen offerings. As its frame is part of the building's architecture, this cannot be changed. Architect Sasha Gebler is now designing a wide screen that will rise out of the stage in front of it when required, a piece of magic worthy of the cinema organs of the 1930s. "You'll be able to walk into a perfect 1910 auditorium, see the ads on the old screen with its curtains, then up will come the wide screen and you'll be able to watch a modern film as you would in any multiplex," he says.
The Electric is lucky to find a loyal, wealthy owner such as Simon. But if the cinema-restaurant combination and new-technology gizmos work, then the restored Electric could be more than a trendy-London phenomenon. It might just suggest a new - or rather, old - kind of urban cinema. Something that isn't out of town, and isn't multiplex. Something the Edwardians would have recognised. Your own local picture house, down your own street.