The Bracknell Regeneration Partnership has secured five additional new lettings for The Lexicon Bracknell retail and leisure destination. Four of these deals were signed post the EU referendum in June, demonstrating the resilience of the occupier market, and continued confidence by retailers and food and beverage occupiers in high quality shopping destinations with strong catchments, such as The Lexicon.
Kids’ stationery brand Smiggle, jeweller Beaverbrooks and shoe retailer Footlocker, all of which are new to Bracknell town centre, are joining an already strong line-up that includes Fenwick, Marks & Spencer, H&M and Next. Additionally, Vodafone is relocating its store in Bracknell’s existing Princess Square shopping centre to a larger unit in The Lexicon.
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, secured the lettings for the £240m town centre regeneration project. The new retail destination is part of one of the largest urban regeneration schemes currently being built in the UK.
Managing director of Smiggle, John Cheston, said: “We’re thrilled to be opening our new store in Bracknell. There really is nothing like Smiggle anywhere else on the high street – and it will be great to see the public’s reaction when the doors open next year. It’s important for us to inject fun into everything we do – from product design to store design, we will always focus on delivering to our fans the most original and playful stationery possible.”
Bracknell is the first post-war new town to be comprehensively masterplanned, and regenerated. An investment of £768m is being spent on the regeneration of Bracknell Forest Borough, including the town centre and improvements to the wider area. The Lexicon Bracknell is a brand new 580,000sq ft retail, restaurant and leisure destination, part of 1m sq ft of retail and leisure within the improved town centre.
Already 66 per cent pre-let (by floor area), The Lexicon Bracknell has attracted top fashion brands such as TopShop, TopMan, Marks & Spencer, River Island and Primark plus the first new build, full line Fenwick store in 14 years.
Richard Poyser, Retail Leasing Manager at L&G, said: “When open, The Lexicon Bracknell will be a thriving retail and leisure destination that will create a new social and cultural heart for the area. We’re pleased to be adding exciting new retail and casual dining brands to the mix, which the people of Bracknell and Berkshire will love.”
Harry Pickering, Investment Manager for Schroder UK Real Estate Fund, said: “The growing list of retail and leisure operators choosing to open new stores at The Lexicon is testament to the attractive and vibrant new town centre that we are developing in Bracknell. Despite some negative predictions nationally in the run up to the EU referendum, interest from potential tenants has remained strong and these new lettings demonstrate the continuing robust confidence in our development.”
The ultimate creators of fun, fashion-forward stationery, Smiggle will be taking a 900sq ft. unit on Braccan Walk. Footlocker, which is taking 3,600sq ft., will also be located on Braccan Walk, as will Vodafone, which is taking a 1,500sq ft unit. Family-run jeweller Beaverbooks will open in prime fashion location, The Avenue, with 1,700sq ft.
In addition to the new retail lets, oriental restaurant Tang’s is taking 8,350sq ft. in Bracknell’s newest restaurant quarter, Eagle Lane. The area will be home to an array of popular eateries, including wagamama, Carluccio’s, Gourmet Burger Kitchen, Nando’s and Chimichanga, plus a new 12-screen Cineworld. This will greatly improve Bracknell’s evening economy as well as boosting dwell time during the day to the benefit of retailers.