Colliers undertake options and feasibility study for Alexandra Palace

Masterplanning for a sustainable future for Alexandra Palace moves a step closer at the start of 2011, following the appointment of Colliers International to undertake an Options Analysis and Feasibility Study.

The study, will inform a future Masterplanning Exercise, assesses and outlines viable content options for the Palace & Park taking into account customer demand, brand alignment and sustainable commercial viability, as well as the heritage, iconic building and park status of the site.

Appointed by the Alexandra Park & Palace Regeneration Working Group (APPRWG), created by the Alexandra Park & Palace Board of Trustees (APPCT) last autumn, Colliers International, through its niche practice Locum Consulting is due to report its findings in early April 2011 with a viable set of options for feasible future uses within the Palace and Park.

Proposals will assess the capital costs, development time frames and identify potential future partners. The results of the study will provide an Options Analysis that will enable Alexandra Palace to approach potential funders, partners and operators.

This report will be informed by consultation with key stakeholders, drawing and building upon information from previous studies and will include recommendations on:
• Existing and future site usage; 
• Tenant mix; and
• Socio-economic and commercial implications.

Announcing the appointment, Cllr Pat Egan, Chair of The Trust said: “This study will give us a fresh, up to date and deeper understanding of the possibilities for an Alexandra Palace of the future which the whole community can be proud of. It follows on from the work we did last year, which included extensive stakeholder consultation and which enabled us to define a vision* for the site in the future. The work Colliers International is about to undertake will provide a route map to plan the regeneration we want to deliver and is an essential first step to ensure we proceed along the right course.”

Farrah Hassan-Hardwick, Director, Colliers International said: “We are truly delighted to have secured this high profile instruction for Alexandra Place and Park. We will blend a creative yet commercial approach to identify a range of uses that will rejuvenate the Palace and Park. We are committed to finding a commercially sustainable solution that will revitalise this iconic building yet remains true to its ethos of the ‘People’s Palace’.

Colliers International niche practice Locum Consulting has a wealth of relevant experience which has been brought to bear successfully on a number of similar high profile regeneration projects. These range from Chatham Historic Dockyard in Kent, which is now a thriving commercial, residential and leisure destination for residents and visitors, and Royal William Yard, Plymouth that created a successful vision to introduce commercial uses into a Listed Building, whilst respecting its historic setting.