Grün Berlin GmbH – an open space developer in the German capital – is considering multi-million euro plans to redevelop a theme park which closed its doors 13 years ago.

Located in Berlin, Spreepark has been awarded multiple grants by the European Union to restore the park to its former glory. A €10m (US$11.2m, £7.2m) figure has been touted for the potential development, though nothing is yet set in stone.

If the plans go ahead, the park’s dilapidated buildings would have to be demolished and floors containing asbestos would have to be replaced at a cost of €3m (US$3.3m, £2.1m). A further €7m (US$7.8m, £5m) would go towards restoring the parks Löcher, a bar which first opened in 1837, and restoration of the park’s salvageable rides.

The park’s Ferris wheel, an iconic symbol of the attraction, would need significant investment to restore it to working condition. The ageing wheel has been subjected to years of rusting and corrosion, making a repair job costly. The park previously had seven rollercoasters, though only one remains, after the others were sold to other parks or demolished.

In terms of green space, the park has been taken over by the elements since its closure. With a very naturalistic feel, the area includes picnic areas, a swimming pond and water play areas.

Spreepark first opened its doors in 1969 and at its peak attracted 1.7 million visitors a year. The park hit financial trouble in 1999 and closed in 2002, when the park was declared bankrupt.

Speaking to AM2 a representative for Grün Berlin confirmed the developer was involved in exploratory talks, but said that at present there weren’t any concrete concepts for the restoration and no contracts had officially been signed.