Cardiff Council’s planning committee has approved the scheme which will see Signature Living acquire the grade II-listed former music venue. The property, which has stood empty for three years, will now be transformed into a luxury hotel, wedding and events venue.
Signature Living – owner and operator of the Shankley hotel and 30 James Street in Liverpool – fought off more than 100 rival bidders for the property after proposing to restore the landmark and preserve all of its original features.
The deal ends years of uncertainty surrounding the future of the derelict site, and Signature Living said the investment will further boost to the ongoing regeneration of the Cardiff Bay area.
Lawrence Kenwright, co-founder of Signature Living, said: “The Coal Exchange is a magnificent landmark building. Our plan is restore it, regenerate it and make it something that Cardiff can be proud of once again.
“I know how historically important the building is to the entire nation and that is why we intend to preserve the original features and maintain all of its historic artifacts just like we did with the former White Star Line headquarters in Liverpool.”