ZhongRong Issued with Ultimatum over Crystal Palace Project
Posted on: 16/02/2015

Bromley Council has issued Chinese developer ZhongRong with an ultimatum, requiring them to establish their intent for a “new” Crystal Palace or give up their rights to the project.

The group has suggested their desire to restore Crystal Palace and build it as a cultural attraction; however their 16-month “exclusivity agreement” expired back in January- putting pressure on the developers to make formal proposals.

Bromley Council are keen for work to commence soon as council leader Stephen Carr said it needed “to reassure local people” that Crystal Palace Park would be improved. The council have demanded a non-refundable £5m deposit is required if ZhongRong wish to extend their exclusivity agreement for a further six months stating that a decision must be made by 20 February.

In October 2013 chairman of ZhongRong said Ni Zhaoxing said: “London is renowned across the world for its history and culture and the former Crystal Palace is celebrated in China as a magnificent achievement.

“This project is an once-in-a-lifetime opportunity to bring its spirit back to life by recreating the Crystal Palace and restoring the park to its former glory.”

Whilst the council seem very interested in upholding ZhongRong’ s partnership, Tom Chance, Green Party candidate, did not share these views in saying: “We should get rid of these developers, and commit not to going into any more secretive deals that override the planning masterplan and local wishes.”

This is an exciting opportunity for ZhongRong and it will be interesting to see if they decide to extend their partnership with the council and go ahead in their development of this project.

For up to date news about upcoming and ongoing development projects within the UK please follow up on twitter @BlueprintBnS

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