It is currently Sun Feb 23, 2020 12:03 am


Coal Exchange Hotel

if it's about Cardiff.. Sport, Entertainment, Transportation, Business, Development Projects, Leisure, Eating, Drinking, Nightlife, Shopping, Train Spotting! etc.. then we want it here!
  • Author
  • Message
Offline

MountStuartSquare

  • Posts: 1
  • 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?
Offline

Ash

  • Posts: 910
  • Joined: Wed Jul 30, 2014 12:28 pm

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.
Offline

Cardiff

  • Posts: 404
  • Joined: Sun Jul 20, 2014 7:48 am

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.
Offline

Lyndon

  • Posts: 257
  • Joined: Fri Oct 17, 2014 4:39 pm

Re: Coal Exchange Hotel

PostFri Jan 24, 2020 10:20 am

The council is coughing up to get the Coal Exchange finished:

The controversial renovation of a Grade II* listed building as a luxury hotel has secured council funding.

Cardiff council has approved a loan - believed to be about £2m - to the owners of the city's Coal Exchange.

The first phase of the 173-bed Exchange Hotel, in Cardiff Bay, opened in 2017 following a £15m refurbishment.

Cardiff South MP Stephen Doughty had urged the council to reject the request from controversial Liverpool company Signature Living.

Mr Doughty raised concerns over the financial and business background of the company's owner Lawrence Kenwright.

Mr Kenwright said he was "delighted" funding had been secured for the "jewel in the crown" of Cardiff's heritage and hoped work would be completed by April.

The council said the loan, which will cover half of the remaining costs to complete the work on one of the city's most significant buildings, was subject to "strict conditions" to safeguard the investment.


https://www.bbc.co.uk/news/uk-wales-51228054
Offline

Brian62

  • Posts: 14
  • Joined: Fri Nov 08, 2019 12:37 pm

Re: Coal Exchange Hotel

PostFri Jan 24, 2020 12:46 pm

"completed by April"
Have I read that wrong? Three months to finish the building?
Offline

Lyndon

  • Posts: 257
  • Joined: Fri Oct 17, 2014 4:39 pm

Re: Coal Exchange Hotel

PostFri Jan 24, 2020 1:44 pm

He didn't say which year :lol:

Return to Cardiff Wales Map forum

Who is online

Users browsing this forum: No registered users and 6 guests