The future of Bangor High Street could be decided by Gwynedd Councillors at the monthly planning committee meeting on Monday 11 April.
A recent application for a £2.2m redevelopment of the former Peacocks store would see the development of ground floor of the building for commercial space, which is to be completely refurbished, with a tenant already lined up to provide co-working space and an enterprise hub for business development. Extension and conversion of the upper floors will create 18 x 1 & 2 bedroom apartments and a new build block of apartments on the derelict land to the rear consisting of 6 x 2 bedroom apartments, which are to be sold upon completion.
Although the project has been backed with £175,000 of funding from Gwynedd Council’s Economic Development Team via the Property Renovation and Improvement Scheme (PRIS), the Local Planning Authority have recommended the application for refusal, on the grounds that there is no further need for 1 & 2 bedroom apartments in the City centre, somewhat contrary to reports from local estate agents who are all expressing a clear shortage of supply, resulting in record prices.
The future of this regeneration scheme is to be decided by the 18 Councillors at the Planning Committee Meeting next Monday, and a refusal of the scheme would set a precedent which could have disastrous consequences for Bangor High Street as a whole.
It is well known that the High Street is going through a transitional period. No longer is there demand for rental units from big retailers as they switch their business models to websites and warehouses. This change is forcing property owners to reduce their rents significantly and in turn look for other uses of the now redundant floors above. Converting the empty space to residential accommodation means property owners can retain an effective use for their property while investing and improving the quality of the High St as a whole.
Regenerating buildings to create residential accommodation above commercial premises, enables property owners to charge affordable rents on more flexible terms to suit smaller independent retailers, while also bringing people to live on the High Street. Those new residents in turn work and spend their money in the café’s, restaurants and businesses on the high street. This is an all-round win-win situation, particularly when you consider the environmental and sustainability benefits of living so close to public transport and less reliance on private vehicles.
This is a proven regeneration model across major city centres all around the world, and in the eyes of all the leading think tanks on High Street regeneration, this is the only solution without investing major sums of already depleted public money.
If the scheme at the former Peacocks site is refused on the grounds that there are already enough 1 & 2 bedroom units in the City already, developers believe a precedent will be set for all buildings on Bangor High Street, and if the option for residential accommodation in the now empty floors above is taken away, property owners will have no incentive whatsoever to improve the High Street.
Dave Horrocks, MD of Pollecoff House Ltd who are proposing the project, said: “This is a scheme to provide high quality housing in the city centre, which I believe is sorely needed, particularly in the young professional’s sector as they make the transition from living at home/university to buying their first house. This is not student accommodation, that market is already well supplied in the city.
“It’s a sizeable regeneration scheme for a significantly distressed area of Bangor High Street, it could prove a catalyst for further regeneration of the neighbouring buildings which are an absolute eyesore. The Economic Development Team have been great and supportive of the project so far, as they can see the need for regeneration of the area and the potential this project has.
“I can appreciate the Planning Authority have policies to guide them, but this is a city centre crying out for investment, so I am baffled by the proposal for refusal of the scheme on the grounds of lack of need for 1 & 2 bedroom units. From our research with local agents the evidence is clear that demand is hugely outstripping supply, forcing prices up and people to move away from the city.
“Four years ago, we completed the redevelopment of 205 High Street next to the Cathedral which now houses Wood Fired Shack. Being allowed to create apartments in that project enabled us to invest heavily in the building, while still charging an affordable rent to help a new business grow, giving something the people of Bangor didn’t have before. If there were no apartments above then we wouldn’t have even considered taking on that building, and if this is going to be the way the Planning Authority interpret their guidance going forwards then I have very little hope for the future of the High St unfortunately.”
