Bracknell's Lexicon Shopping Centre Sold for £150m

The shopping destination that transformed Bracknell town centre has been purchased for around £150 million.

Bracknell's transformed shopping hub, The Lexicon, has been bought for approximately £150 million by US investment firm Realty Income.

Realty Income completed the acquisition from Schroder Capital UK Real Estate Fund and Legal & General Capital, as reported by CoStar News and Completely Retail.

The Lexicon boasts a 95 per cent occupancy rate, featuring high street brands like Primark, Next, and JD Sports, along with anchored supermarkets Marks & Spencer and Waitrose, a Fenwick department store, and a Cineworld.

Developed by the Bracknell Regeneration Partnership, including Bracknell Forest Council, The Lexicon opened in September 2017, with its anniversary celebrated by the late Queen Elizabeth II in October 2018. Recently, a new bar, restaurant, and music venue called Musica opened in the former TGI Fridays site.

Following its sale announcement in March, councillor Paul Bidwell reassured that the council remains committed to working with commercial partners for the town's benefit. He highlighted the ongoing town centre redevelopment plans, including the Southern and Eastern Gateways, which will enhance local shops, leisure, and cultural facilities.

According to Cllr Bidwell, these regeneration efforts are crucial for the community and won't be affected by the ownership change. The sale was managed by JLL.

James Aldridge, Local Democracy Reporter