The Menai Centre, a major city centre retail complex in Bangor, has been listed for sale with a guide price of £4.2 million, ahead of a scheduled auction on Tuesday, 17 June 2025. Marketed by Savills, the property is being described as a rare opportunity to acquire a prominent freehold shopping centre investment, comprising 19 individual retail units.
Spanning 64,321 sq ft (5,975 sq m) across ground and upper floors, the Menai Centre currently generates £508,000 in annual rental income, offering a gross initial yield (GIY) of 12.10% based on the guide price. Tenants include national high street names such as JD Sports, Café Nero, Hays Travel, Superdrug, and Greggs, along with newer additions like City Sports & Cocktail Bar, which has replaced the former H&M unit.
Originally developed in 2007 by Cathco Property Group at a cost of £18.5 million, the Menai Centre was once seen as a cornerstone of Bangor’s retail scene. However, the centre experienced significant decline during the Covid-19 pandemic, losing major anchor tenants including Debenhams and H&M, and at one point stood 80% vacant.
In 2023, the property was purchased by Bearmont Capital, led by entrepreneur Rob Lloyd, who began efforts to revitalise the complex by attracting new tenants and exploring potential mixed-use redevelopment.
Sale Details and Exclusions
The sale does not include the former Debenhams unit, or the Marks & Spencer unit, as they were sold several years ago.
Two-Stage Bidding Process
Savills has confirmed a structured two-stage bidding process:
Stage 1: Interested parties are invited to submit offers by 12 noon on Monday, 10 June 2025. If an acceptable offer is received, the sale will proceed immediately under auction contract terms, with a 10% deposit payable upon exchange. The property will then be considered sold prior to auction.
Stage 2: If no standout bids are received, or if offers are closely matched, a reserve price will be set, and the property will proceed to a live online auction.
The listing highlights both current rental income and ongoing asset management opportunities, with significant potential to further revitalise a key section of Bangor’s retail core.
For further details or to request the legal pack, interested buyers should contact Savills.
