2 Nov 2017
Continued success for the Lexicon Bracknell
Six more sought-after brands will be joining the enviable line-up of new retailers at The Lexicon Bracknell, the £240 million retail and leisure town centre destination in Berkshire.
The new announcements follow an enormously successful seven weeks of trading since the scheme opened last month, with highly positive feedback about the new retail destination from both retailers and customers.
At 94.3% occupancy, with a further 5,090 sq ft in negotiations, the transformed town centre has also been shortlisted for three prestigious industry awards; one MAPIC Award and two Revo Gold Awards, under the ‘Best Retail Urban’, ‘Re:new’ and ‘Re:generate’ categories. The winners are due to be announced in November and December, respectively.
British-heritage inspired clothing retailer, Jack Wills, leads a string of new lettings, which include Charles Tyrwhitt, Accessorize, Hotel Chocolat, Revital and TGI Fridays.
Richard Poyser, Retail Leasing Manager for Legal & General, said: “Interest from brands in The Lexicon has only increased since we opened last month. The vast majority of our retailers have significantly exceeded their sales targets and some have reported that their Bracknell stores are their best performing nationally. The feedback we’ve had has surpassed all expectations and we’ve had some really exciting conversations with new names as a direct result of overall performance over the past seven weeks.”
Jack Wills, which is opening a 2,260 sq ft store at The Lexicon, will be joined by British clothing company, Charles Tyrwhitt, in a 1,685 sq ft store. Accessorize, offering a vibrant and eclectic mix of inspirational women’s fashion accessories will also join the line-up in a 1,045 sq ft unit. The new retailers will open on The Avenue and will further boost The Lexicon’s fashion offering.
Award-winning, British chocolatier, Hotel Chocolat, will open on Braccan Walk in a 1,310 sq ft space and Revital, the health-food, vitamins, supplements and beauty product retailer has signed to open in an 830 sq ft shop on The Avenue, adjacent to M&S.
Additionally, TGI Fridays will join the impressive line-up of F&B occupiers at The Lexicon. The American casual-dining brand will open a 7,470 sq ft restaurant alongside other occupiers including Prezzo, GBK, Bill’s and Carluccios.
Jessica Berney, Head of UK Retail at at Schroder Real Estate, said: “We’re delighted that The Lexicon Bracknell has been so well received by its catchment area, testament to the quality of the scheme and the need for a revitalised town centre in Bracknell. The feedback from retailers and F&B operators since launch has been incredibly positive, which in turn is continuing to encourage further retailer and F&B occupier interest with little sign of momentum slowing. We look forward to many successful years ahead for The Lexicon.”
The renovated town centre is anchored by Marks & Spencer and the first, new build, full-line Fenwick to open in 14 years. The Lexicon is also home to the Thames Valley’s only 4DX cinema at the 12-screen Cineworld and The Bull, a refurbished and extended public house, dating back to the 15th Century.
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. It is part of a £768 million investment in the regeneration of Bracknell Forest Borough. Joint agents for The Lexicon Bracknell are CBRE and Lunson Mitchenall.
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Notes to editors
The Lexicon Bracknell is being developed by The Bracknell Regeneration Partnership (“BRP”), a 50:50 joint venture between Legal & General Capital (“LGC”) and Schroder UK Real Estate Fund (“SREF”), working in partnership with Bracknell Forest Council (“BFC”). The joint agents for The Lexicon Bracknell are CBRE and Lunson Mitchenall.
Household income and expenditure in Bracknell currently exceeds the UK average by 28% and 21% respectively. This is similar to other affluent locations including Guildford, Oxford, Windsor and Maidenhead. Bracknell Forest was rated 16/20 in last year’s Halifax Quality of Life survey.
Bracknell is only 30 miles west of central London and is a key part of the thriving Thames Valley economy, known as the UK’s Silicon Valley. Bracknell is a hub for large, multi-national brands and businesses, including Waitrose head office, Fujitsu, Honda, 3M, Dell, HP and Vodafone. Bracknell has strong transport links to the UK motorway network, located between the M3 and M4.
Legal & General Capital
Legal & General Capital (LGC) is the early-stage investment arm of Legal & General Group. Investing from Legal & General’s principal balance sheet, LGC’s purpose is to generate long-term shareholder value by injecting new capital into key sectors where there has been a shortage of investment and innovation. Focused on Housing, Infrastructure (Urban regeneration and Clean Energy) and SME Finance, these key sectors reflect our aim to invest for the long term in economically and socially useful assets, to secure competitive returns and to create new asset classes for Legal & General’s varied investment requirements, for our partners and for the wider marketplace.