Bromley Council agree exclusivity deal with Chinese Crystal Palace developers
PUBLISHED: 09:37 18 October 2013 | UPDATED: 09:38 18 October 2013
The Crystal Palace developers have agreed an exclusivity deal with Bromley Council, meaning no discussions can take place with other parties for the next 16 months.
ZhongRong Group, run by billionaire Ni Zhaoxing, requested the deal to allow time and investment to bring about the detailed plans required to secure planning permission.
The company will now have exclusive rights to the project until February 2015, by which time they hope to be on track for the £500million project - scheduled to open in 2018.
Cllr Stephen Carr, leader of the council, said: “These complex proposals will transform the park itself and the wider area too and it is right that we give the ZhongRong Group the time to properly work up their proposals.
“An absolutely critical part of this will be talking with and listening to local people and the range of representative groups about their views. This will need to happen before a planning application is submitted and in that sense, these proposals are still at an early stage.”
Further information about Crystal Palace Park and the ZhongRong plans are available at bromley.gov.uk/crystalpalacepark.