Soft Marketing Process Concludes for Takeover of St David’s Hall Operations
A prominent theatre operator, distinct from Academy Music Group (AMG), has shown a serious interest in operating St David’s Hall, as revealed by a Cardiff Council official. Neil Hanratty, the council’s director of economic development, addressed inquiries during a scrutiny committee meeting on May 31 about the local authority’s receipt of expressions of interest in managing the renowned classical music venue that did not materialize into formal bids.
The six-week soft marketing process for St David’s Hall concluded on May 19 without receiving any official bids to operate the venue. Mr. Hanratty confirmed during the Cardiff Council economy and culture scrutiny committee meeting that no bids were received within that timeframe. He attributed this lack of interest largely to the substantial maintenance costs associated with the building. A draft notice outlining the venue’s takeover specified that potential operators would be responsible for approximately £38 million in repairs.
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However, Mr. Hanratty later mentioned, “Organizations did engage with the consultants. I certainly know one major theatre operator that seriously considered the opportunity but decided not to bid in the end.” While he did not disclose the name of the theater operator, he indicated that it might be revealed during the confidential section of the meeting.
Following up on the matter, scrutiny committee member Cllr Rodney Berman revisited his earlier question, inquiring whether a longer timeframe might have resulted in bids that met the requirements. He emphasized the importance of thoroughly testing the market to explore feasible alternatives.
Mr. Hanratty defended the six-week duration as “typical and normal” for a soft marketing process, citing previous instances when the council allotted even less time. He added, “It certainly wasn’t a short period. I’m not sure if a longer timeframe would have generated any bids, considering the fundamental issues involved.” With the soft marketing process now concluded, the council intends to publish a voluntary ex-ante (VEAT) notice of intent, enabling competitors to challenge the bid.