Row over deal to convert Cardiff's historic Coal Exchange building

A row has broken out over the decision to convert Cardiff's historic Coal Exchange building into a luxury hotel.

Developers Signature Living say the £40 million project will provide 100 jobs and apprenticeship opportunities when work starts later in the year, however local MP Stephen Doughty has raised concerns over what he claims was a "backroom deal" to hand over the building.

He said there are still a "huge number of unanswered questions about this particular proposal" and is calling for a full inquiry by the Welsh Government and Cadw.

Cardiff Council says it did not own the building, and was exercising its power as mortgagee after a number of expressions of interest.

Earlier Cardiff Council were incorrectly quoted. Here is their full statement.

A spokesperson for Signature Living said its plans were the "only credible and valid project to save the Coal Exchange" and that it was "sad a small handful of individuals are trying to smear the scheme and effectively stop the Coal Exchange from being saved."