The Lexicon, owned in a joint venture between Schroders Capital and Legal & General Capital, has announced around 30,000sq ft of new retail lettings with Dunelm, Levi’s and Tesco Express all set to arrive at the Bracknell retail destination.
The Lexicon will also welcome a major international fashion brand who has signed terms for a flagship letting for the scheme in 6,200sq ft of space. Meanwhile, globally recognised brand Levi’s have bought its range of denim to Bracknell after agreeing a new lease for a 3,885sq ft store which opened in October. These arrivals further expand The Lexicon’s fashion offering which currently includes retailers such as M&S, Fenwick, Superdry, H&M, Hobbs, Primark, Next, Phase Eight, Charles Tyrwhitt, TK Maxx and River Island.
Two notable national retailers will be coming to Princess Square, occupying a combined 16,620 sq ft of space. Leading UK home furnishing retailer Dunelm, will occupy c. 15,000sq ft of space in a new flagship letting for Princess Square. Meanwhile, Tesco Express will be opening adjacent to Starbucks, after signing a lease for a 2,599 sq ft unit. Both new arrivals to Princess Square will further amplify The Lexicon’s current homeware and convenience offerings.
Markos Kazittis, Dunelm regional coach, commented: “We’re excited to be opening our new Dunelm Bracknell store. The team will be working incredibly hard over the next few months to get everything set up and ready to welcome the local community into our amazing new home.”
The Lexicon is also welcoming Optical Centre to Braccan Walk, who have taken 2,144sq ft. Founded over 30 years ago in France, Optical Centre has become one of the leading brands in optics and hearing.
The Lexicon continues to support growing occupiers and earlier this year introduced High Scores Arcade to Princess Square, an amusement centre featuring arcade-style video games which customers can play during a 60 minute session.
These new arrivals at The Lexicon coincide with a series of lease renewals. This includes Mobile Bitz, Footlocker and McDonald’s who have all extended their commitment at the centre, with McDonald’s signing until 2038. Meanwhile, Beaverbrooks have recently completed its fit out of their new flagship store following a significant investment by the retailer to enhance the shopping experience.
The arrivals and recommitments by these brands evidence the work The Lexicon team has done to provide an environment which supports their retailers’ needs and ensures they continue to trade successfully in the post-pandemic retail landscape. This work to create a diverse tenant mix has resulted in the growing popularity of the retail destination, evidence by footfall figures at The Lexicon growing by over 11% during the first half of 2024.
The Lexicon’s strong footfall growth has also been supported by an action-packed events calendar which has brought the local Bracknell community together. These events include The Lexicon Summer Proms which saw an array of local acts perform in Bracknell town centre as well as Bracknell Forest Pride which brought in visitors from across the Thames Valley region. These regular community events alongside a carefully curated retail, leisure and F&B line up recently saw Bracknell town centre secure a +64% net promoter score following a survey of local residents by Henley Business School.
These latest arrivals at The Lexicon continue the strong leasing momentum seen in Bracknell over the past 12 months. Earlier this year nationwide bar and cafes chain Lounges moved into a 3,400 sq ft space meanwhile international gelato and desert brand Amorino moved into the Lexicon alongside kitchen and dining ware retailer ProCook.
Tom Woolven, asset manager for Schroders Capital’s real estate team, added: “We are delighted to welcome a host of fantastic new brands to The Lexicon. We expect these retailers to prove popular with our customers as we look to capitalise on the strong footfall and sales reported during the first half of the year.
“With The Lexicon now approaching full occupancy, we have curated a diverse tenant mix which provides a wide array of choice for our shoppers in the post-pandemic retail landscape. Meanwhile the on-site team at The Lexicon continue to make the scheme a welcoming place for all and help ensure The Lexicon continues to be a thriving retail destination which attracts people from across the Thames Valley and beyond.
“The local community is integral to the success and vibrancy of The Lexicon. Hosting events throughout the year such as the Bracknell Forest Pride, and The Lexicon Summer Proms help to bring the scheme and the community together. The retail landscape has been very challenging in recent years – but it is testament to the strength of Bracknell as a retail destination that that we continue to welcome high profile brands and new flagship tenants to the scheme.”
