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Hotel and luxury apartment plans revealed for coal exchange

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Alvear24

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Re: Hotel and luxury apartment plans revealed for coal excha

PostMon Mar 13, 2017 4:26 pm

Cleaning with power wash at the Coal Exchange this weekend.
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Jantra

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Re: Hotel and luxury apartment plans revealed for coal excha

PostMon Mar 13, 2017 6:25 pm

Which bits have been cleaned
I'd rather be no one than someone with no one.
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paul cardiffwalesmap

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Re: Hotel and luxury apartment plans revealed for coal excha

PostMon Mar 13, 2017 7:10 pm

I was down there yesterday - and even on a pretty grey day and looking 'between scaffolding' it certainly looked much improved. I don't know all the details behind the scenes but it's great to see that this building is no longer on death row!! actions speak louder than words I'm hoping this is the catalyst for this quality part of butetown to get put back on the map - I mean, compare it to Mermaid Quay? not much of a contest really :)

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Alvear24

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Re: Hotel and luxury apartment plans revealed for coal excha

PostTue Mar 14, 2017 5:10 pm

They have cleaned the east, south and west faces. Just the north to go, which is the one opposite Empire House.
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RandomComment

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Re: Hotel and luxury apartment plans revealed for coal excha

PostMon Mar 27, 2017 4:24 pm

Not sure if people have seen this but, interesting information in:

http://www.propertyweek.com/insight/mar ... 72.article
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Jantra

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Re: Hotel and luxury apartment plans revealed for coal excha

PostMon Mar 27, 2017 4:38 pm

Can you cut and paste for those of us who can't access without a login
I'd rather be no one than someone with no one.
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RandomComment

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Re: Hotel and luxury apartment plans revealed for coal excha

PostMon Mar 27, 2017 5:30 pm

Here are a few key bits:

At the Coal Exchange, investors have bought all 200 rooms at about £80,000 a room, or £250/sq ft, says Kenwright, adding that this compares with Cardiff’s residential value of £300/sq ft.

The plan is to borrow to cover the rest of the cost of what will create an investment worth £40m. After three years and up to seven years, Signature has the right to buy back the rooms, giving the investors an 8% profit. It is a strategy that enables Signature to be both owner and operator of its hotels.

In response to those who describe the refurbishment as nothing more than cosmetic, Kenwright points out that he has already removed 770 tons of rubbish from the Coal Exchange, and expects to remove as much again.
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lucky

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Re: Hotel and luxury apartment plans revealed for coal excha

PostMon Mar 27, 2017 5:45 pm

I'm slightly confused. If investors have already bought all 200 rooms at 80k per room, why were they being freshly advertised last week at a reduced rate on property websites? For example, marketed on 24th March at £61,750:
http://www.zoopla.co.uk/new-homes/detai ... 05407dc920
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Peiriannydd

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Re: Hotel and luxury apartment plans revealed for coal excha

PostMon Mar 27, 2017 8:14 pm

Who cares, as long as the building is saved and restored!
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lucky

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Re: Hotel and luxury apartment plans revealed for coal excha

PostTue Mar 28, 2017 4:55 pm

We all want the building saved and restored; even the Council accepted that it had to be saved rather than left to fall down. But if this scheme fails, there will be an incredibly complex web of creditors to be dealt with, making it extremely difficult to save again. I'm genuinely hoping that doesn't happen, because it won't be good for anyone, but it makes me itchy when someone is so inaccurate in their claims. I accept a certain level of embroidery in salesmanship, but not something so demonstrably untrue.
On the bright side, at least it now looks attractive externally and that may buck up interest. Investors who looked into it before would have been put off by the small forest sprouting from the roof.
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