The Lexicon Bracknell officially opens
With the scheme being one of the largest urban regeneration schemes in the UK, Bracknell town centre has been transformed by The Bracknell Regeneration Partnership, a 50:50 joint venture between Legal & General Capital and Schroder UK Real Estate Fund, working with Bracknell Forest Council.
The development includes the first, new build, full line Fenwick department store to be opened in 14 years. The store will span 80,000 square feet over three levels.
Simon Russian, head of development at Bracknell for Legal & General Investment Management, Real Assets, said: “The transformation of Bracknell has been a massive challenge. Much hard work, imagination and investment was required to turn the previously run-down town centre into a vibrant, enticing destination in line with its affluent catchment. Significantly, this is the first post-war new town to be completely masterplanned, demolished, reconfigured and rebuilt.”
The 580,000 square foot development has attracted brands such as Joules, Fat Face, Superdry, Office, Next, H&M, River Island, Timberland, Seasalt, Paperchase, KIKO Milano, The Body Shop, Beauty Base, Topshop, Pandora, Marks & Spencer and Primark.
Other high street brands to join the line-up include Vodafone, Carphone Warehouse, Moss Bros, Vision Express, Footlocker, Smiggle, Flying Tiger Copenhagen, Boots, Ernest Jones, Beaverbrooks and L’Occitane.
Jessica Berney, head of UK retail at Schroder Real Estate, said: “Lexicon has delivered thousands of jobs and attracted new brands, ensuring the town is now a leading retail and leisure destination in the southeast, which customers can enjoy and return to again and again. The 30,000 square foot Waitrose store, which opened in 2011, and the Marks & Spencer, which launched its 80,000 square foot anchor store in July, have both traded exceptionally well, attracting customers from across the catchment, showing the tremendous potential for the whole town centre.”
Some £768 million is being invested in the regeneration of Bracknell Forest borough, including the town centre and the neighbouring area. The regenerated town centre now consists of one million square feet of retail, casual dining and leisure, including the existing Princess Square shopping centre.
The remainder of the town centre regeneration includes one of the largest green walls in Europe, as well as the refurbishment of existing shop facades, major public realm improvements, some 3,800 spaces in new or renovated car parks and highway upgrades to the local network.
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