A deal between Cardiff Council and Signature Living will see the Grade II* listed Coal Exchange building restored and regenerated as part of a £40million hotel and events venue.
Signature Living saw off numerous rival bids for the building after proposing to refurbish the much-loved landmark and preserve all of its original features as part of a new luxury 200-suite hotel, wedding and events venue.
Currently, some 30 small businesses operate from the Coal Exchange, no comment has been made about their future.
Dr Elaine Davey, Chair of the Victorian Society’s Welsh group, and committee member of Cardiff Civic Society, said “In 2014 the Victorian Society was so concerned about the Coal Exchange we placed it on our list of England and Wales’ Top Ten Most Endangered Buildings. Since then, the Save the Coal Exchange group has re-opened spaces inside the building for businesses to use and carried out essential repairs. This hard work should be congratulated. Cardiff Council must now work closely with Save the Coal Exchange, Signature Living and ourselves to ensure that one of the most important buildings in Wales is restored to the highest possible standard.”
Ian Hill, of campaign group Save the Coal Exchange, said members were excited about the plans but were keen for work to “start immediately, to stop further degradation”. He added: “The Cardiff Coal Exchange building is vast, which will take a considerable sum to develop in its entirety. “The worry is that work will begin but to the parts in the best condition first, as they will bring the fastest return on investment, risking the future of the building once again.”
Link below to coverage on the BBC site – please be aware of the inaccuracy contained within it – the building is not disused, as explained above.