Redwood recently issued a press release marking a host of new lettings for client The Lexicon, Bracknell, the town centre regeneration scheme owned in a joint venture between Legal & General and Schroder UK Real Estate Fund. Having written the release and secured approval from both joint venture partners and the tenants named, we achieved an exclusive in Property Week, both online and in print, on the same day that celebrations took place in the Berkshire town marking a highly successful first year at the scheme, which culminated in 50,000 sq ft worth of new lettings.
TK Maxx, the international fashion chain, is to open a 27,351 sq ft store in the heart of the centre, joining the impressive lineup of clothing stores. In addition, Deichmann, the German shoe and sportswear retailer, will be opening a 5,648 sq ft store.
The Lexicon continues to diversify its leisure options with the signature of Gymfinity Kids, who will be taking over 15,000 sq ft of space in the Princess Square section of the centre. The Lexicon will be improving its food offer too, as McDonald’s moves from its existing unit to a new unit with the latest fit-out, increasing its take-up to 6,136 sq ft.
The new arrivals to the centre will help build on an impressive first year in which footfall has beaten the 16 million mark, and some retailers reporting that The Lexicon is home to their brands’ most successful stores nationwide.
Harry Pickering, Investment Manager at Schroders, commented: “The Lexicon is showing no signs of slowing down as we enter the second year of trading, as prominent high street brands continue to be attracted to the tailored mix of fashion, dining and leisure facilities.
“At the centre we continue to strive towards the best combination of retailers for those who visit the centre, and we work closely with tenants to ensure The Lexicon is offering the best visitor experience. We look forward to another exciting few months in Bracknell.”
Richard Poyser, Head of Retail Relationships & Leasing for Legal & General, said: “The vision for the regeneration of Bracknell was to create a welcoming and engaging contemporary and timeless town centre with the residents and customers at the heart. A year on, we are proud to see the town continuing to thrive and attract great brand names ensuring there’s something for everyone.”
The Lexicon, Bracknell was 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. The joint agents for The Lexicon Bracknell are CBRE and Lunson Mitchenall.