Park plans to be revised
Wed 8 April 2015, 12:19 pm
Plans to renovate Crystal Palace Park are being reconsidered after a 16-month exclusivity agreement to develop the site, which Bromley Council had agreed with Chinese developer, the ZhongRong Group, fell through.
The group had wanted to build a new cultural attraction, replicating the original Crystal Palace in Bromley and restoring the surrounding park area – a project estimated to cost around £500 million.
Bromley Council issued a 14-day ultimatum in March asking ZhongRong to clarify its plans for the park, which the developer failed to meet. As a consequence, it has now lost the rights to regenerate the site.
The issue arose from the ZhongRong Group wanting to develop the entire top half of the park, when the council had stated it would only be designated the area at the top of the site.
The council has since said that it intends to prioirtise the regeneration of the park.