Crystal Palace could be rebuilt by billionaire Chinese developers

 
26 July 2013

The historic glass and steel Crystal Palace exhibition centre could be rebuilt after billionaire Chinese developers expressed an interest in the project.

ZhongRong Holdings was reported today to be interested in creating a replica of the glass and steel building that housed the 1851 Great Exhibition.

City Hall sources confirmed that a major investor was in talks with the Mayor and Bromley Council about regenerating a large section of Crystal Palace Park.

It is understood the Shanghai-based firm - set up by Ni Zhaoxing, who has an estimated $1.25bn fortune - has already appointed consulting engineers Arup to develop proposals for the popular South London site.

The original Crystal Palace was a cast-iron and plate-glass building erected in Hyde Park to house the Great Exhibition of 1851.

More than 14,000 exhibitors from around the world gathered in the 990,000 square feet of exhibition space to display examples of the latest technology of the age.

Sir Joseph Caxton’s huge building astonished visitors with its unprecedented use of large sheets of glass on the walls and ceilings.

After the exhibition the Crystal Palace was rebuilt in South London where it stood from 1854 as a testament to the Industrial Revolution until destroyed by fire in 1936. The 1854 building was built to a Beaux-Arts design in glass and metal and was significantly different from - and larger than - its predecessor. It housed a school of art, science and literature and hosted concerts, exhibits and public entertainment.

It is unclear what use the Chinese developer might have in mind for the newly rebuilt Crystal Palace or the wider park regeneration scheme.

City Hall insiders stressed that discussions were at a very early stage with no firm proposals expected before the autumn and little detail as to what the final plans may contain. Any proposal would be expected to complement the wider park and the surrounding area.

However, there are no current plans to build any homes or to regenerate the sports and athletics centre - or Crystal Palace’s football stadium several miles away.

A spokesman for Boris Johnson said: “The Mayor is committed to finding a long-term sustainable future for Crystal Palace Park. The Mayor and the London Borough of Bromley have been approached by a potential developer who is keen to redevelop a large section of the north-side of the Park.

“Discussions between all parties remain at a very early feasibility stage but the plans do not include any residential development. Any fully formed proposal would of course be presented to the public for comment in order to build a consensus on the way forward.”

A Bromley council spokesman said: “It is a matter of public record that we are committed to improving Crystal Palace Park which remains a jewel, not just in Bromley, but in London’s crown.

“We are continuing to look at and explore all funding options, including grant funding, that might be available to help secure a long term and viable future.

“As part of this, we have had discussions with a number of parties and all of these conversations remain at early stages.”

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