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"During the coming months, trustees of Ally Pally will find out if they have been successful with their bid to the Heritage Lottery Fund (HLF) for £16.8million to revitalise the derelict Victorian theatre, develop BBC studios and restore the East Court.
"If the bid is successful, chief executive Duncan Wilson hopes momentum will start to build behind the project and private investment can be found for the development of a four-star hotel in the palace."
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