It is understood that Signature Living, which runs a chain of hotels and serviced apartments schemes in Liverpool, is looking to acquire the historic Coal Exchange in Cardiff Bay, with development plans including a boutique hotel, luxury Signature Living serviced apartments, a restaurant and a grand wedding venue in the old trading hall which has a capacity of up to 1000 people.

A previous £20m development scheme went into liquidation, leaving a number of creditors including Cardiff council, but the site is currently technically owned by the Crown Estate. The Coal Exchange was built between 1883 and 1886, and was the location for the first recorded million pound business deal.

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