I can’t remember where I heard or read this, but I heard it somewhere that they were allowing Pen-Y-Bryn to lay waste until all the shops/buildings had been vacated and then they would regenerate the whole area. However, since then the bridal shop has opened and the buildings immediately around it seem to have been privately renovated rather than any council intervention, so that seems to give the lie to what I heard.
I hope the council have some plan in mind though, it’s a waste of a potentially prosperous area. It’s one of the main gateways into the town centre and could be made into a really attractive approach to the main shopping areas.