STOP CARDIFF COUNCIL DONATING OUR HERITAGE TO DUBIOUS DEVELOPERS

Call on Cardiff Council to halt its attempts to transfer ownership of this important piece of Cardiff’s heritage to hotel company Signature Living.

We need to fight to protect the historic integrity of a national icon. Any building in any city could become a home for this 'proposal.'

Once this building is gifted to dubious developers, and the work carried out, it will be taken from the nation forever, with all profits made going to Liverpool.

Signature Living’s owner was barred by from holding any company office for 8 years by court order. They have little interest or experience in renovating a building of this significance and will strip it of its character and most of the jobs it creates will be minimum wage zero hours contracts.

Its financial methods leave it vulnerable to collapse and there is a real risk that the Coal Exchange could be left in a far worse state than it is in now.

Despite concerns raised by local MPs and AMs, Cardiff Council justify this short sighted insensitive decision by saying the Coal Exchange is derelict which it is not.

Signature Living specialise in hosting parties and accommodation for stag parties and hen do's and have been quoted as saying that they take the hen and stag parties "nobody else wants."

The building although promised to be restored to full conservation standards, will succumb to daytime and late night revellers stumbling to find their way back to the 'hotel' becoming a nuisance to local businesses and residents.

This building was built by the backbreaking work of our forefathers and made our nation famous globally. It belongs to the people of Wales, not developers whose main priority is to financially benefit not only from alcohol sales, but also claiming BPRA on a building they don't own.

The company hasn't even acknowledged the 35 companies already in the building, almost 70 residents or the efforts action group Save the Coal Exchange who are maintaining this building.

There has yet to even be a full survey instructed by the company, but yet they have plans that are all based on artist impressions.

Stephen Doughty had a meeting with the developer who said that he would do "as much as the council would let him get away with" and that in fact, the building will be one third residential, one third serviced apartments, one third hotel. Their entire business model is based on BPRA which is being abolished this year due to developers exploiting it as a tax avoidance. Stephen Doughty has also said that the developer said they could turn it around in record time as they would "bring our own team in" yet they have publicly said they will use local labour.

In a Wales Online article dated 12th April 2016, Signature Living was quoted that the 200 bedroom hotel "will bring 100 jobs and apprenticeships to Cardiff Bay, and another 60 jobs will follow when it opens in 18 months time."

Then in an article on Wales Online dated 17th April 2016, Signature Living was then quoted as saying "there will be a restaurant on site and at least 200, and possibly as many as 300 rooms - some of which will be serviced apartments." Signature Living were also then quoted as saying that "the new Coal Exchange could be open within 8 months because he (Lawrence Kenwright) employs each team himself".

So does that sound like local workmen? Or a team he's bringing in to "deliver the building in half the allowed time given to us."

This is a grade II* listed building that will require CADW accredited surveys and craftsmen to carry out ANY restoration to the facade and hall. Really? This whole building, in 8 months?

Another thing taken from the Wales Online article dated 17th April 2016. Is the fact that Signature Living can be quoted as saying "the project will not be funded by public money. We fund the process from investors from all over the world."

But in the very same article Signature have admitted to using the BPRA (Business Premises Renovation Allowance) scheme, for his initial kickstart of funds. I'd like to point out that this is claimed as tax relief for the development of derelict buildings from the HMRC.

SO if it wasn't claimed, that money would STILL be in the HMRC's possession. Meaning - IT IS PUBLIC MONEY. As it has been taken FROM the HMRC pot.

THERE IS A SECRECY OF PROCESS. LACK OF TENDER FOR THE BUILDING. LACK OF COMMUNITY GUARANTEES. NO CLARITY REGARDING SPECIFIC USE. SUSPECT FINANCIAL MODEL.

More info on BPRA as a tax avoidance for developers http://citywire.co.uk/new-model-adviser/news/hmrc-kick-starts-crackdown-on-commercial-property-tax-avoidance/a797955

Cardiff South & Penarth MP Stephen Doughty's concerns http://www.walesonline.co.uk/news/wales-news/mp-raised-serious-concerns-over-11160631 and http://www.itv.com/news/wales/2016-04-14/should-40-million-cardiff-coal-exchange-hotel-project-go-ahead/

And a Private Eye article about the developers: http://codphilosophy.co.uk/sections/fishy-business/2014/09/class-act

THERE HAS BEEN A CALL FOR A FULL PUBLIC ENQUIRY OVER THIS BY STEPHEN DOUGHTY MP. IT HAS ALSO BEEN ANNOUNCED THAT IT WILL BE BROUGHT TO PARLIAMENT IN WESTMINSTER ON 20TH APRIL AT 11AM.

IF NOTHING WAS UNTOWARD, THEN WHY HAS STEPHEN DOUGHTY MP CALLED FOR THIS?

WE WANT AN OPEN, DEMOCRATIC, TRANSPARENT PROCESS WITH THE COUNCIL CONSULTING THE PUBLIC THE WHOLE TIME WITH NO UNDERHANDED DEALS BEING ANNOUNCED AS "DONE."

SURELY IT IS IN THEIR INTEREST TO AUCTION THE BUILDING FOR AS MUCH AS POSSIBLE, RATHER THAN LET IT GO TO RECOUP FUNDS OF £177,000 (WHICH WAS £1.2 ORIGINALLY).

Transcript of Stephen Doughty's Westminster debate:
https://hansard.parliament.uk/commons/2016-04-20/debates/Hocdebdt20160420scrlgtghs_2Cwesthalldebateod3ticardiffcoalexchange/CardiffCoalExchange

BBC: www.bbc.co.uk/news/uk-wales-politics-36093246

And Wales Online article: www.walesonline.co.uk/news/politics/call-halt-redevelopment-cardiffs-coal-11216462