By removing Dragon Challenge - They could effectively double the size of Hogsmeade
By removing FFL and taking that lagoon- They could effectively double the size of Diagon Alley/Kings Cross
If they do both of those, and use all the land area- it would be absolutely mind blowing.
As in- Star Wars takes a backseat mind blowing.
Realistically though, I'd bet they only use half of each area.