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Site Visit to the Lexicon, Bracknell, 25th May 2018
The development of the Lexicon Shopping Centre has completely transformed the centre of Bracknell since it began in 2011.
Harry Pickering, Investment Manager at Schroder Real Estate Investment Management, joint owners with Legal & General, explained the history of the project to a group of SPR members before leading a tour of the site.
Bracknell is the first post-war new town whose centre has been redeveloped in this way. The Lexicon has boosted the town’s image and helped foster a sense of community that was lacking in the past.
Pickering explained that the shopping centre has one of the wealthiest catchments in the UK, with footfall continually rising since the main part of the development opened in September 2017, to currently stand at 400,000 annually.
The Lexicon is anchored with one of the few Fenwick stores outside London.
The centre also boasts the UK’s largest green wall, reflecting its strong sustainability credentials and the dramatic improvements that have been made to Bracknell’s public realm.
The cost of the development, which contains around one million sq ft of retail, restaurants and leisure space, currently totals £240 million.