28-05-2025
- Business
- North Wales Chronicle
Bangor's Menai Centre handed £4.2million auction guide price
The Menai Centre, owned by Bearmont Capital, will go to auction with Savills on June 17.
Developed by the Cathco Property Group in 2007, the centre cost up to £18.5million to build.
During the pandemic, the centre lost a host of big names, including Debenhams and H&M, with the retail space mostly empty in recent years.
The Menai Centre was snapped up by Bearmont Capital, run by Rhos-on-Sea millionaire Rob Lloyd, back in 2023.
Greggs, Hays Travel and City Sports & Cocktail Bar (at the old H&M site) have all moved in since their takeover.
Despite extensive plans for the centre, and the company working to attract new businesses to the centre, it seems the centre will now be moved on.
The listing is understood to not include the Debenhams or M&S units, with the former earmarked as a health board site and the latter sold off several years ago.
Savills said of the listing: "The property is arranged over ground and one upper floor and arranged as 19 seperate units.
"Each shop benefits from their own street frontage.
"The shopping centre has no communal atrium, thus minimising the common parts.
"To the rear is a service yard."
The two-stage bidding process will help complete the sale of the shopping centre, Savills added.
