12 JULY 1997, Page 25

. . . Palace of Variety

THE natural solution — no, don't thank me, Peter — presents itself. Down the road from the gasworks is a site with grass, trees, river and a building ready built. The prime meridian runs through it and the Observa- tory stands above it, to prove to all corners that Greenwich means time. Vacated by the Royal Navy, the building was reserved for Deptford Poly — I beg its pardon, the Uni- versity of Greenwich — but the dons have had cold feet about it and a new use must be found. Wren, its architect, is almost as famous as Lord Rogers of the Dome, though not quite such a friend of Tony Blair's. You could stage a good exhibition in and around his Thames-side palace and still have change from £750 million.