MORE than 100 prospective tenants, investors and visitors, including former customers of the former Corn Exchange pub in Crickhowell High Street turned out to an Open Day on Saturday, to see how work to convert the ground floor into new independent shops is progressing. It was the first opportunity to view the premises since the works started nine months ago.
The team running the project – Corn Exchange Crickhowell Ltd (CECLtd) – say they were “bowled over” by the enthusiasm of people who want to rent the new commercial units and also the number of new people who now want to invest money into the project. Early in the day, they were handed an application for £5,000 worth of shares from an existing shareholder who toured the building and, having seen the remarkable progress that has been made, decided to invest more.
CECLtd Managing Director, Dean Christy, said: “We had a number of interested parties for the commercial units who wanted to see the size of the units before making a decision – the Open Day gave them that opportunity and many said they were impressed at how much space there was in the building and the great position it occupies on the High Street”. The potential tenants have been asked to fill out a questionnaire and return it to CECLtd by July 22.
Dean Christy said: “This does not bind them in any way, but it does give us information about them and their ideas for The Corn Exchange, so we can judge how they would blend in the High Street and the town itself. From the outset, we gave a commitment to our shareholders that all commercial tenants must satisfy certain criteria approved by them which is the reason for the questionnaire”
The Open Day also gave existing shareholders an opportunity to come along and see how their investment is being used and potential investors a chance to see for themselves the work which is being done. (CECLtd) Communications Director, Tim Jones, said:” All through the Open Day, people were coming in, seeing how the shops are coming together and asking us how they could get involved. Many admitted that they hadn’t bought shares during the first round because they didn’t believe we could achieve our ambition of converting the building into three shops and three flats but, after seeing how far we’ve got, they said they had changed their mind. And then I was absolutely delighted when an existing shareholder handed an application for £5,000 more shares – it was a statement of his continuing confidence and support”.
Last month, the Directors told shareholders at their Annual General Meeting that they had not yet sold all the shares available from the second share issue and that they were around 15 per cent short of the funds that they needed to complete the building work. As a result of the Open Day CECLtd say they now have serious interest, both from existing and potential investors who wish to buy shares.
Anyone who wants more information about renting a unit or investing in the project can email email@example.com