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Coal Exchange Hotel

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MountStuartSquare

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  • Joined: Tue Jul 16, 2019 7:18 pm

Coal Exchange Hotel

PostTue Jul 16, 2019 8:32 pm

Hi everyone, this is my first post on here so please excuse any errors.

I live on Mount Stuart Square and over the last 6 weeks or so have noticed that there haven't been any workmen on site at The Coal Exchange. I popped into the Hotel and spoke with reception about a month ago and was told that they were not visible as they were now working in the basement. Over the last few weeks I thought it was strange that I hadn't seen a single construction worker on site so I popped in again this morning and spoke with someone different at reception who informed me that all construction work at the building was halted somexweeks ago and they have no idea when or if work will resume at the building to complete the redevelopment.

As the North wing of the building is still completely derelict and in a terrible state of repair I think it's really concerning that all work has halted on such a historically important building. I was just wondering if anyone else has heard anything with regard to Signature Livings future plans for The Coal Exchange?
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Ash

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Re: Coal Exchange Hotel

PostTue Jul 16, 2019 10:29 pm

I've heard nothing but Signature Living's funding model always appeared quite high risk. For that reason, the council insisted that work on the buiding was phased in such a way that of it stopped at any point the building would be in a better condition than it was before the work began.

Without suggesting any impropriety on Signature Living's part, the funding model was aimed at the same sort of investors that were targeted in the growing Gavin Woodhouse / Afan adventure park scandal. That may well have dented confidence.
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Cardiff

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Re: Coal Exchange Hotel

PostWed Jul 17, 2019 4:59 pm

Signature Living have had money issues since the start, their founder has had a number of failed businesses. They are sporadically in the news regarding investor concern.

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