The Lexicon continues to expand F&B offering as leasing drive picks up pace
21 September 2021The Lexicon, the joint venture partnership between Schroder UK Real Estate Fund and Legal & General Capital, has today announced that, Plush, Kokoro, GAIL’s Bakery, Yi Fang and Fone World will take a combined 26,354 sq ft at the scheme on a ten-year lease.
Home furnishing store Plush will open a new 19,210 sq ft flagship store offering a wide-range of innovative, comfortable furniture from premium quality brands. Plush’s store will be designed to immerse customers into the world of luxury, fine detailing, and home comforts with a modern twist.
Meanwhile, Kokoro, a Korean Japanese takeaway, founded by Rak-Kyu Park in the UK more than a decade ago has grown from fielding just three solitary tables to now opening a 803 sq ft location in the heart of Bracknell, where it will bring its trademark offering of tasty, fresh, and healthy food.
In addition, GAIL’s Bakery is also set to join the Lexicon, taking 2,634 sq ft and offering handmade bread, pastries and cakes and house blend speciality coffee. The artisan bakery located between L’Occitane and Charles Tyrwhitt will be open for business by the end of the year, providing something new to the food mix and strengthening Bracknell’s consumer attractiveness.
Finally, Yi Fang will take 954 sq ft and bring its popular traditional fruit tea and tapioca pearl bubble drinks made with only natural ingredients to The Lexicon. Together these three brands will further bolster the area’s rich F&B offering that already boasts the likes of The Real Greek and New World Trading Co’s cocktail bar ‘The Botanist’.
With these new arrivals, including Fone World who are taking 2,753 sq ft, The Lexicon is successfully combining innovative retail, placemaking and regeneration to improve both Bracknell’s day and night-time economy with the arrival of the new F&B brands.
The 200,000 sq ft refurbishment of Princess Square, which was enabled through the joint venture of Schroder UK Real Estate Fund and Legal & General Capital together with Bracknell Forest Council under the Bracknell Regeneration Partnership, was the latest major investment to help the town cement its position in the region.
This momentum is set continue with plans for the new night-time hub, The Deck, that will provide more retailers, restaurants, and leisure facilities in the heart of Bracknell town centre giving a link between Princess Square and Bull Square.
Commenting on these latest developments and the new arrivals, Harry Pickering, Head of UK Retail at Schroders, said: “The reopening of non-essential retail continues to breathe new life into the property industry, and open-air retail schemes, in particular, such as The Lexicon in Bracknell are still experiencing a high level of attraction with the diverse retail, F&B and leisure facilities it has to offer within a winning location. From our perspective, the key now is to prioritise making the shopping experience as exciting and enticing as possible, to continue restoring consumer confidence, and seize this opportunity to make up as much ground as possible on what has been a damaging year for the sector. To that end the addition of these five important new occupiers, including three important F&B operators will only help re-enliven The Lexicon’s offering. This is set to bolster Bracknell’s regeneration allowing the retail market to grow from strength to strength as the pandemic subsides and a bright future lies ahead.”
Christopher Thomas, chief executive at Plush said: “It was so important for us to get the location of our first and flagship store right. A combination of the design of the fabulous glass fronted store and The Lexicon’s discerning customers, made Bracknell town centre the perfect choice.”
The joint agents for The Lexicon, Bracknell are CBRE and Lunson Mitchenall.