The Crystal Palace rebuild saga seems to have finally ended as Bromley Council officially pulled out of talks with the ZhongRong Group.

The council have confirmed the exclusivity agreement with the Chinese developer will not be renewed.

The highly controversial 16-month exclusivity agreement signed by the council ended earlier this month.

But in a twist, the council continued to be in 'confidential discussions' over the £500 million plans to rebuild the iconic structure.

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Extending the agreement - for six months - was being mooted if certain conditions were met.

The council, with the support of the Greater London Authority (GLA), gave the ZhongRong Group until last Friday (February 20) to come up with proposals.

Among the 'financial and business-related conditions' to be met before a renewable was viable, a non-refundable sum of £5 million was reportedly requested by the council before renewing agreement.

The council has now written to the group, chaired by Ni Zhaoxing, informing them there is no 'realistic prospect' of an agreement.

Coun Stephen Carr, leader of Bromley Council said: "There is a major opportunity here to do something that might really improve the park and provide much needed regeneration locally too.

"This was why we were prepared to properly listen to what ZhongRong had to say but we were never going to simply say yes to absolutely anything as we need to get this right.

“Now, we will meet with community stakeholders as we have done all the way along this process to review options going forwards.

"Importantly too, we are continuing to progress plans to improve Crystal Palace Park with an investment in excess of £2million."

The future plans for the park are now in question.

Tom Chance, the Green Party's candidate for Lewisham West and Penge, said: "I think the Mayor owes Crystal Palace an apology for keeping community groups out of the park for sixteen months, and losing £4.5 million in lottery funding, while entertaining this ridiculous proposal."

The original Crystal Palace was built in 1851 in Hyde Park but moved to Crystal Palace in 1854, but it burnt down in 1936.

Read our previous coverage here.

What are your thoughts? Was it a waste of time? What should happen to the park now?