Plans to demolish a cinema and turn it into a hotel have been given the go ahead by the city council.

The Odeon on George Street in Oxford is the third cinema to close in Oxfordshire, following closures in Banbury and the 99-year-old Magdalen Road theatre.

The top five floors of the cinema will now be turned into hotel apartments, each with their own ensuite kitchen.

READ MORE: 'Significant' fire breaks out at house with child inside

The £37million proposal also includes plans to convert the site into a new community space on the ground floor.

Oxford City Council’s cabinet approved the scheme in a meeting on Wednesday (July 12).

Odeon cinema’s lease on 38-40 George Street runs out in September 2024 and since last September the council has been carrying out a procurement exercise.

Deputy leader of the city council, Ed Turner, said earlier this month: “This is a once in a generation redevelopment of one of Oxford city centre’s iconic buildings.

“We are extremely excited to see the building transformed to provide a new community hub in the heart of Oxford city centre.

“It is unfortunate that Odeon has announced the closure of their cinema in Magdalen Street, and we hope they may reconsider this decision.

“The aparthotel will also encourage more overnight stays in Oxford city centre, providing a significant boost to hospitality businesses, particularly George Street’s theatres, restaurants and bars.

"It will provide valuable income to support frontline services such as youth workers and grants to voluntary sector organisations.”

Given the proposal has been approved, the new contract and lease on the site could be signed as early as August or September this year.

The council then aims to secure planning permission for the new building by the summer of 2024.

The demolition and construction would take at least three years, with the aparthotel and centre only likely to open in 2027.

Odeon was encouraged to engage with the procurement process, but the cinema operator did not submit a proposal.

READ MORE: Man cautioned after emergency worker assaulted in car park

The aparthotel will feature around 145 rooms, and these will be built on the upper five stories of the building, with a reception on the ground floor, including a bar and café.

The aparthotel rooms are different from those at a normal hotel as they offer furnished apartments, with an en-suite kitchen featuring a cooker and fridge.

Most visitors to Oxford do not visit overnight according to Experience Oxfordshire’s 2015 report, with only 17 per cent of the roughly 6.6 million people who visit the city each year choosing to stay overnight.

The new operator of the building will be given a 40-year lease on the building.