Hi Wheldon,
I would say no. I haven't got much to go on but there is reference to the Sun Inn, 26th July 1913 in Gwynedd Records...
XM/623/418.
FILE: Report and Valuation of Sun Inn, Bangor, and related papers.There is allot of other newspaper etc information for earlier years. The above may be interesting and could perhaps explain the absence in the 1912 directory.
For those who don't know the Sun Inn was located at 320 High Street. It is a section which has kept true to the numbering, so relates to the recently closed Cob Records store.
c1889