Bracknell Forest Council and its development partner Bracknell Regeneration Partnership (BRP) are delighted to announce a £30 million development agreement, to bring about the next wave of The Lexicon’s regeneration.
The investment will see the old Bentalls unit completely transformed into a covered public space with new food and retail units – to be known as The Deck. It will also enable Princess Square, to be remodelled in to a modern, light, bright and airy centre which will link directly into The Deck.
Cllr Marc Brunel-Walker, Executive Member for Economic Development and Regeneration, said:
“The signing of the development agreement between the council and BRP is an important step in enabling the next exciting phase of Bracknell town centre’s regeneration.
“Currently, the retail market is tough and while The Lexicon is bucking the national trend with strong footfall and sales figures, the council was keen to ensure that these two key redevelopment opportunities were not missed due to retail and finance pressures. By working with our development partners we have secured that exciting next step.”
Rob Morris, general manager at The Lexicon said:
“The redevelopment of this part of town will further the diversity of shops and leisure facilities in The Lexicon attracting even more visitors. We are delighted that with the development agreement in place, work on Princess Square and The Deck will commence later this year.”
Bracknell is the first post war new town to be comprehensively master planned, demolished, re-configured and rebuilt. It’s overall regeneration is being carried out in phases – with aspirations for the area’s short, medium and long term redevelopment being showcased as part of the 2032 vision.