This wasn't the main old penguin pool, which was several enclosures to the left, up by the monkey temple. The exhibit photographed formed part of the overall south american enclosure (still home to prairie dogs today) which, at the time I saw it (late 80s), held prairie marmot, alpaca, and mara, with this Macaroni penguin exhibit to the side. I am not 100% but I would say the pudu now occupy the site of this enclosure.
I've just found another batch of photos that I took in 1989 of Bristol Zoo. One of them is of the south american enclosure where this penguin pool can be seen in the background & three of them are of the main pool.
I'm pretty sure the Pudu enclosure is on the site of the original(main) Penguin pool.
The original Penguin pool had a curved barrier modelled to resemble a ship's deck rail.. They used to hang lanterns on it at night to prevent foxes going after the Penguins.(foxes used to jump into the gardens over the walls.)