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Signature Living, which operates hotels and serviced apartments in Liverpool, is looking to acquire the Coal Exchange
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The Coal Exchange, Mount Stuart Square, Cardiff Bay
Plans to turn the historic Coal Exchange building in Cardiff Bay into a boutique hotel and private apartment development can be revealed.
Signature Living, which runs a chain of hotels and service apartments schemes in Liverpool, is finalising an evaluation process with a view to acquiring the building with development plans they say will “breathe life” back into the "utterly stunning" building.
However, even if a deal is struck any plans would require planning consent as well as agreement from Cadw, as the Coal Exchange is a listed building. Plans also include a restaurant and for it to be a wedding venue for up to 1,000 guests.
The 140,000 sq ft building was previously owned by Macob Exchange, which had plans for a £20m scheme to turn it into apartments, restaurants and office space.
However, the business went into liquidation. There is currently a charge on the building from Julian Hodge Bank and Cardiff council, but it is currently technically owned by the Crown Estate. The are a number of other smaller creditors too.
It is understood that it would need the Crown Estate to agree any property deal having taken the position of creditors and the wider community interest into account.
Julian Hodge is owed around £3m, while the council says it has a charge position due to costs incurred, under its emergency powers, to ensure the safety of the building.
Related content: Council confirms developer interest
Signature's existing portfolio includes a hotel themed in honour of the late Liverpool football manager Bill Shankly, the Shankly Hotel.
Signature interested in 'magnificent building'
Lawrence Kenwright, owner of property portfolio company, Signature Living
On his website founder and owner of Signature Living, Lawrence Kenwright, said: "This magnificent building is a grade two listed building and was once home to the city's coal business.
"We have incredible plans for the Coal Exchange and our goal is to breathe life into this utterly stunning building once again.
"The development will consist of Signature Livings unique take on luxury accommodation with a mixture of a hotel and Signature Living apartments, as well as a restaurant and grand wedding venue in the old trading hall which has a capacity of up to 1,000 people."
When asked if a deal was close on acquiring the Coal Exchange a spokesman for Signature said: “We are look at a variety of priorities in a variety of cities including Cardiff.
"We have expressed an interested in the Coal Exchange, but we are not in a position to offer further comment at this stage."
http://www.walesonline.co.uk/business/b ... d-10906002
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The Coal Exchange, Mount Stuart Square, Cardiff Bay
Plans to turn the historic Coal Exchange building in Cardiff Bay into a boutique hotel and private apartment development can be revealed.
Signature Living, which runs a chain of hotels and service apartments schemes in Liverpool, is finalising an evaluation process with a view to acquiring the building with development plans they say will “breathe life” back into the "utterly stunning" building.
However, even if a deal is struck any plans would require planning consent as well as agreement from Cadw, as the Coal Exchange is a listed building. Plans also include a restaurant and for it to be a wedding venue for up to 1,000 guests.
The 140,000 sq ft building was previously owned by Macob Exchange, which had plans for a £20m scheme to turn it into apartments, restaurants and office space.
However, the business went into liquidation. There is currently a charge on the building from Julian Hodge Bank and Cardiff council, but it is currently technically owned by the Crown Estate. The are a number of other smaller creditors too.
It is understood that it would need the Crown Estate to agree any property deal having taken the position of creditors and the wider community interest into account.
Julian Hodge is owed around £3m, while the council says it has a charge position due to costs incurred, under its emergency powers, to ensure the safety of the building.
Related content: Council confirms developer interest
Signature's existing portfolio includes a hotel themed in honour of the late Liverpool football manager Bill Shankly, the Shankly Hotel.
Signature interested in 'magnificent building'
Lawrence Kenwright, owner of property portfolio company, Signature Living
On his website founder and owner of Signature Living, Lawrence Kenwright, said: "This magnificent building is a grade two listed building and was once home to the city's coal business.
"We have incredible plans for the Coal Exchange and our goal is to breathe life into this utterly stunning building once again.
"The development will consist of Signature Livings unique take on luxury accommodation with a mixture of a hotel and Signature Living apartments, as well as a restaurant and grand wedding venue in the old trading hall which has a capacity of up to 1,000 people."
When asked if a deal was close on acquiring the Coal Exchange a spokesman for Signature said: “We are look at a variety of priorities in a variety of cities including Cardiff.
"We have expressed an interested in the Coal Exchange, but we are not in a position to offer further comment at this stage."
http://www.walesonline.co.uk/business/b ... d-10906002