Selhurst Park football stadium is set to go on the market, after administrators began dismantling owner Paul Kemsley’s £500m property empire.

The stadium, which has been home to Crystal Palace FC for 85 years, has been described a “big ticket” asset by Pricewaterhouse Coopers(PWC), which said it anticipated “a lot of interest” in the freehold.

Any developer would be obliged to keep the ground as a football stadium under Croydon Council development policy, unless they are able to provide an alternative stadium within or close to the borough.

Crystal Palace FC owner Simon Jordan already had the option of buying the freehold under the terms of the 25-year lease agreement he secured for his club in 2008.

He refused to say whether he was interested in making an offer for the stadium.

The sale marks the start of an estimated two-year process to offload the tycoon’s property portfolio, which includes the £20m former Burberry HQ in London and properties in the West End and Manhattan.

PWC were called in as administrators for the failing Rock Investment Holdings in May, following the slowdown in the property market.

Selhurst Park is expected to sell for several million pounds if a suitable buyer can be found - a marked increase from when the former brickfield was bought for £2,750 from the Brighton Railway Company in 1922.

Selhurst's future

Section 6.57 of Croydon Council’s Unitary Development Plan states: The presence of a Premier/Football League Club within Croydon brings many economic, social and cultural benefits.

It is therefore important to protect the facilities that are considered necessary for the retention of such a club. These include the pitch, stands, clubhouse and car park.

There may be circumstances where a new stadium can be provided elsewhere, in which case the redevelopment of the site may be considered.

However, the new stadium should be within or close to the Borough in order to retain the historic link with Croydon.

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