The money, estimated at £2 million, will allow the building to be completed as a luxury hotel. Brochure printing may often be of assistance when marketing holidays, in relation to city breaks and local tourism.
Located on Cardiff Bay, the hotel is already partly open. A total of £15 million was put into the scheme and part of the work was finished during 2017. Liverpool’s Signature Living recently made a financial request to Cardiff Council. The hope is that the makeover will be done by April.
Cardiff Civic Society is taking an interest in the issue, due to the heritage implications. Dr Elaine Davey, who is a member of the organisation, told the BBC:
“The most important thing is protecting the building. The Coal Exchange is of enormous significance because of its function in establishing the Victorian town, now capital city.”
It appears that the Welsh Government decided to facilitate the loan in the first instance. As part of the Town Centre Loan Scheme, the regeneration project was approved. However, Cardiff Council still had to make its own decision after this green light had been given.
Lawrence Kenwright, Signature Living’s owner, is confident that investors will get a return on their contribution to the project. He is keen on the revaluation of the property.