THE Vale council has revealed the latest plans for Barry Waterfront’s Innovation Quarter (IQ), off Hood Road.

Plans involve the creation of an entertainment village featuring a range of pop-up cafes and bars.

But a party interested in situating a multi-screen cinema in the area has backed out of submitting a bid saying a gap in public sector funding meant the scheme would be unviable.

The Vale council has announced the former railway storage unit on Hood Road, known as the Gwalia Buildings, would see the 1880s Goods Shed property converted into a community of small, local businesses trading out of modified shipping containers.

DS Properties, which created the award-winning nearby Pumphouse redevelopment and gained the controversial United Reformed Church, in Windsor Road, on planning inspector appeal, has put forward the proposal.

The council hopes it will become the latest feature of this revitalised area of Barry, subject to planning permission.

Southern restaurant Hang Fire and specialist espresso bar Academy occupy the 260-year-old Pumphouse across the road from the Goods Shed’s potential site, while the Premier Inn hotel and Snap Fitness Gym are among other businesses attracted to the IQ.

The building, in line for transformation, was marketed by agents JLL over the summer and the council is currently working with Welsh Government in an effort to bring this scheme to fruition.

JLL is also currently marketing the adjoining 2.8-acre IQ Southern Development as the council invites other inventive proposals to compliment complement this growing commercial centre.

The council and Welsh Government are seeking quality development ideas that can continue to fuel the regeneration of this prominent former industrial site.

Vale council cabinet member for regeneration and planning Cllr Jonathan Bird said: “We believe the Goods Shed and the development of the attached site can further boost the thriving new business community that has been cultivated on Barry’s Waterfront and provide a significant benefit to the local economy.

“We now have the chance to refurbish another historic local building and this is the latest example of the council’s commitment to the wider regeneration of Barry.

“The hugely successful redevelopment of the Pumphouse building demonstrates the opportunities available in the Innovation Quarter for ambitious developers and the Council will continue to do all it can to encourage the most exciting companies to the location.”

But an interested party in the IQ southern site, who wanted to stay anonymous, said: “Regretfully we have not been able to get a commercially viable cinema development to work on this site. Whichever way we have tried there remains a funding gap with no means of ‘plugging’ it with grant or other public-sector support. We will not therefore be submitting. I still believe that Barry needs a cinema.”