Sir Kenneth Branagh has expressed his support of Alexandra Palace’s theatre regeneration plans.

The three-time BAFTA award winning actor has met with members of the palace’s regeneration team including chief executive Duncan Wilson to discuss the £24 million Heritage Lottery Fund supported plans and offer strategic advice.

He has been at the iconic venue rehearsing Macbeth, his first return to performing and directing Shakespeare after more than 10 years, in advance of it opening at the Park Avenue Armory in New York early next month.

The Harry Potter actor was impressed with the beauty of the derelict theatre and voiced his enthusiasm that the regeneration will see it open to the public once again.

He said: "When I first saw the Victorian theatre at Alexandra Palace I was struck by discovering this well-kept secret; something lost that should certainly not be forgotten.

"I look forward to watching the theatre come alive again through the work of the regeneration project."

Alexandra Palace was built as the People's Palace in 1873, but more than 40 per cent of the Grade II listed building is derelict and inaccessible to the public. A whole-site regeneration plan has now begun to help secure its future.

A £2.3m investment has already been made into the Ice Rink, the Park has been restored with Heritage Lottery Funding (HLF) and more than £320,000 has been invested into essential repairs to the fabric of the building by English Heritage.

The £24m HLF project will see the Palace’s most historically significant areas restored including the BBC studios and Victorian theatre and are being developed by Feilden Clegg Bradley Studios.

Branagh also worked with Alexandra Palace’s learning and community department to arrange a special meeting with a number of local drama students from Heartlands High School.

The students were invited to discuss with Branagh his role in Macbeth, Shakespeare and their career aspirations.

Branagh said: "Alexandra Palace’s learning and community outreach programme was a fun way to discuss Shakespeare with a number of talented local drama students.

"It’s an impressive programme"

Chief executive of Alexandra Palace Duncan Wilson OBE said: "It has been a privilege to have Kenneth Branagh and his company rehearsing Macbeth at Alexandra Palace.

"I’m especially appreciative of the keen interest that Kenneth has taken in our restoration of the derelict Victorian theatre. His performance insight and experience has proved invaluable in our current planning of its exciting future."

The regeneration story: - It is expected FCBS will submit designs and plans to the HLF at the end of this year in an application for the remainder of the original grant application.

- In November 2012, the Trustees of Alexandra Palace submitted a grant application to the HLF for £16.8m for the restoration and regeneration of the palace’s eastern end – the area which contains the palace’s most historic areas.

-In May 2013, the HLF awarded Alexandra Palace £844,800 in development funding – this funding will go towards the project’s design which will be resubmitted to the HLF later this year.

-If Alexandra Palace is successful in the second stage grant application and receives the remainder of the initial grant, work is expected to begin in Spring 2015 and should be completed by late 2017.

- The restored theatre will be a flexible space used for a range of events such as weddings, conferences, theatre and community events.

-The BBC studios will be transformed into an interactive centre for education displaying digital imagery and artefacts important to the history of broadcast television at Alexandra Palace.