I have just been a ride passed the new one.
They have bike parking right by the main entrance, it has a cover but still a little exposed to the elements.
I havent seen one like this before, but in all fairness I havent been looking. You have to lift the front of the bike up and put the handlebars in some arms that are about 3 foot high, so the bike is at a 45 degree angle. Each set of arms has a thick wire plastic coated cable that looks long enough to reach to the back of your bike, so with your own lock you should be able to secure the front wheel, frame and rear wheel. Much better than the stump you can pull out at mery hill!
The store itself looks to be 3 or 4 times what I remember merry hill being, hope they have a large cycle department.