Homme Menswear and Barbers have become the latest business to move to the Menai Retail Centre in Bangor.
The shop will be located at unit three the Menai centre next door to the former Debenhams store. The popular men’s fashion outlet and barbers joins the likes of The Original Factory Shop, Wales Air Ambulance and Hays Travel, who have recently moved to the retail centre.
Homme will also retain their original shop on Bangor High Street, which opened in 2019, as they restructure and build their business and brand profile. A statement on Facebook said: “We look forward to seeing all of our friends there. Keep following us for more information as we look to give you not one but two quality stores on the high street.”
The Menai Centre redevelopment took place in 2008, comprising 21 standard retail units and 2 large space units, over three levels, with the benefit of an associated multi storey car park at the rear (Dean Street Car Park) providing 417 spaces.
The centre has been badly hit since the pandemic with departure of anchor store Debenhams, Body Shop and H&M and currently has a vacancy rate of 80%.
Bearmont Capital’s purchased the Menai Centre in April this year, with a focus on attracting new tenants, by offering competitive deals and exploring new ideas to make the shopping experience more appealing for the community and visitors.
Chief executive Rob Lloyd, who is originally from Rhos-on-sea, said: “We have to roll our sleeves up to make things happen.
Lloyd has ambitions to drive more footfall to the High Street by transforming the retail complex into a more diverse venue, he also believes that fixing problems with high street retail, requires looking at other uses for empty units, such as assisted living, leisure, and residential, as well as acquiring more boutique businesses as tenants.
“It’s all about trying to find a balance that works for the local community and also to attract others to the town so it has to be appealing,” Lloyd said.
“It’s all about being creative and exploring new ideas,” he added.
Bearmont said it was working closely with Gwynedd Council on potential new uses for the space.
Lloyd said: “The local authority and our development team share a common vision for revitalising the city.
“We aim to provide them with the necessary assurances that we are committed to effecting positive changes, and, as always, we will take an active role in enhancing the commercial hub by attracting viable tenants, ensuring reasonable rental rates, and offering more flexible lease agreements.”
“A critical aspect of purchasing a shopping centre is ensuring that the initial price is appropriate to accommodate potential shortfalls, particularly as rents decrease.
“In some instances, rents are decreasing by half due to economic conditions, particularly for historic units where rental rates have been high and are no longer sustainable.
“The local authority and our development team share a common vision for revitalising the city.
“We aim to provide them with the necessary assurances that we are committed to effecting positive changes, and as always, we will take an active role in enhancing the commercial hub by attracting viable tenants, ensuring reasonable rental rates, and offering more flexible lease agreements.”
At a recent meeting, Cyngor Gwynedd Cabinet Members backed plans to develop a new Health and Wellbeing Centre at the Menai Centre, and will work in close partnership with the Welsh Government, the Local Health Board, the University and others to move the proposal forward.
