LLANDUDNO’S former Marks and Spencer shop has been acquired by a North Wales developer with hopes to bring excitement to the high street and its local community.
Fast-growing Welsh developer, Knightsbridge House Estates, part of Bearmont Group and owned by husband and wife duo, Rob and Maria Lloyd, has recently completed on the former Marks and Spencer building on Mostyn Street.
The site became one of Llandudno’s most popular shops throughout its 80-year presence attracting shoppers from all over North Wales.
It was so successful that in the early 1970s, Marks and Spencers purchased the old St John’s Church manse next door as an extension, bringing the town its first-ever escalator.
Much of Llandudno’s architecture and property development was laid out by the Mostyn Family, whom the town’s main street, Mostyn Street, is named after.
Rob Lloyd, of Bearmont Group, said: “We are thrilled to have acquired this large former M&S department store in an off-market deal in a prime location in the heart of Llandudno. We are constantly identifying commercial opportunities that require regeneration, and are excited to provide vibrant new retail for the local community across two floors of trading.
“As a top tourist destination, Llandudno must keep up with the times, and we’re grateful to support this through our regeneration efforts.”
Estimated to be completed by the end of 2022, 55 Mostyn Street will be transformed into modern retail premises.
The four-floor, 19,944 square foot building will be rented as a whole, however, Rob is keeping news of the new tenants quiet.
With an aim to achieve significant growth over the next 12-months by taking on larger-scale deals, Bearmont Group has completed regeneration projects on 19 charity shops for Sense, which support those with complex disabilities.
Rob works closely with the charity, having raised £100,000 through his ‘Senseless Challenge’ which included 12-months of gruelling challenges from SAS training to long-distance runs, skydives, and more.
By creating bright and attractive shop fronts, Bearmont Group aims to revitalise the high street whilst supporting a charity close to their hearts. The group has acquired a large portfolio of former Burton, Dorothy Perkins, M&C, Shoezone, and Select clothing, allowing them to help Sense’s charity shops offer a wider range of stock to its customers.
Bearmont Group is looking to acquire depressed shopping centres that have lost their way, hoping to support local communities and keep the high street alive.
The group is working closely with Colwyn Bay-based Commercial Property Consultants, Richard Baddeley and Co.