Architectural practice Wilkinson Eyre has revealed £45m plans for a 150m-long 'glass palace in the sky' to be situated on the site of London's old Crystal Palace.

If approved, the structure would be the first new building on the site since the old palace burnt down in 1936.

The scheme, a floating building dedicated to the arts, would aim to restore Crystal Palace as an internationally renowned, cultural focal point of the capital.

Wilkinson Eyre was approached by the Crystal Palace Campaign (CPC) committee – an organisation created in opposition to proposals for a multiplex scheme on the site – to create plans for a 'destination icon' to be set in what would become the only dedicated sculpture park in London.

The £45m glass structure would be elevated 54m above south London's Crystal Palace Park and serve a dual intention of respecting the heritage of Joseph Paxton's original palace of glass while providing a new landmark for the skyline.

The two-storey building would be a truly sustainable building, constructed entirely of glass. Sculptural glass ribs would support a laminated grid shell and only the decks within the enclosed space would be supported by steelwork.

Natural ventilation would be controlled by louvres, or gills, on the building's underside while an 'intelligent' skin of photovoltaic cells encapsulated in the glass would adjust internal light and collect solar energy to electrically power the building.

A moving stairway, which would be the longest in the world, would transport visitors above the park and tree line into a 4,500m squared exhibition space with a mezzanine level above the space featuring restaurants and bars.

The CPC design brief was to address the architectural imperatives of the site while considering the implications of its contemporary local context. To this end, a community-wide survey was distributed amongst 40,000 households, establishing that the site should remain a park but that a cultural building was also desired.

Funding for the project will now be sought by the CPC from a variety of sources including corporate sponsorship, grants and grassroots fundraising. Details: www.wiilkinsoneyre.com