The Lexicon Bracknell secures raft of new lettings
The new The Lexicon Bracknell retail development has signed up jewellery retailer Pandora, beauty brand KIKO Milano and fashion retailer Next.
The new brands will join the likes of Fenwick, Marks & Spencer, TopShop and River Island when the £240 million scheme opens in September 2017.
Pandora will launch a 1,389 square foot store on The Avenue, The Lexicon’s premium shopping street. The new shop will showcase Pandora’s range of gold, silver and diamond jewellery, including its customisable charm bracelets. Beaverbrooks and Fat Face will also be situated the pedestrianised thoroughfare which links The Lexicon’s two anchor stores, Fenwick and Marks & Spencer.
The Fenwick store will be the brand’s first new build, full line department store for 14 years and will cover 80,000 square feet over three levels. The two storey Marks & Spencer will also span 80,000 square feet.
Richard Poyser, retail leasing manager for The Lexicon Bracknell, said: “The Avenue will be a stylish area, with planted areas and trees, plus plenty of al fresco seating that customers can enjoy with friends and family. Bracknell’s catchment population is set to rise to one million by 2024 with above national average household income and expenditure. The transformed town centre will attract these customers to visit more often and stay for longer.”
The Lexicon has also signed up fashion brand New Look which will be taking a 11,750 square foot store on Braccan Walk where it will showcase its women’s and men’s clothing ranges. New Look will be joined by makeup and skincare brand KIKO Milano which has signed for a 990 square foot store.
The scheme is being developed by The Bracknell Regeneration Partnership, a 50:50 joint venture between Legal & General Capital and Schroder UK Real Estate Fund, working in partnership with Bracknell Forest Council.
Jessica Berney, head of UK retail at Schroder Real Estate, said: “Work on site is progressing well towards our September 2017 opening. The Fenwick store is now fully clad with an eye-catching façade that will form a dramatic backdrop to the area during the day and at night. The line-up of brands being signed will make The Lexicon Bracknell the first choice for retail and leisure in Berkshire.”
Once open, The Lexicon Bracknell will more than double the square footage of the current retail offer, taking the total to one million square feet including the existing, neighbouring Princess Square shopping centre.
With less than a year to go until opening, some 70% by floor space of The Lexicon is now pre-let or in solicitors’ hands, with a further 68,000 square feet negotiations.
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