Complex sentence: The entire Model Village was believed destroyed when the park closed, but one model survives, that being Buckingham Palace, which was aquired in 2002, restored, and now on display at the Wimborne Model Town.
Split into simpler sentences: The entire Model Village was believed destroyed when the park closed. However, one model survives... that being Buckingham Palace which was acquired in 2002, restored, and now on display at the Wimborne Model Town.