8 Oct

Palace rebuild may boost property

Palace rebuild may boost property

House prices in a large part of south London may be boosted by the presence of new leisure facilities if a major plan to rebuild Crystal Palace goes ahead.

Bromley Council is discussing a £250 million scheme that would see the famous building - which burned down in 1936 - being rebuilt on the same site, the Evening Standard reports.

The new Crystal Palace would include facilities such as a concert venue, an Olympic-sized swimming pool, restaurants, cinemas and an indoor ski slope.

Having such a facility nearby could be beneficial for local house prices.

Architect Ray Hall told the paper the new building will also use renewable technology, commenting: "Rising like a phoenix from the foundations, this new Crystal Palace would be at the cutting edge of sustainability by generating its own electricity through solar and related technologies."

Crystal Palace was originally built in Hyde Park for the 1851 Great Exhibition, before the entire structure was disassembled and reconstructed in the south London district of Sydenham.
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