The report proposes that soft-marketing testing is carried out for Cardiff Ice Arena to see if there is any market interest in acquiring the asset. This would be on the firm basis that the Cardiff Devils position in the rink is protected through their current operational lease.
Although Cardiff Ice Arena is a younger building and major investment will not be required as soon as the other facilities, it was never intended for long-term Council ownership and the capital investment in the asset forms part of the overall debt currently being carried by the Council for the regeneration of the ISV site.
A soft marketing exercise would come with no commitment to sell the Ice Arena, and a further report would be brought back to Cabinet in future for the market response to be considered.
In order to maximise the potential of the proposed market exercise, the Council would like to agree the relocation of Fun HQ - the current sub-tenant occupying the second ice pad.