Press releases
Bracknell regeneration picks up pace with the addition of Sports Direct to the Lexicon
The Lexicon, the joint venture partnership between Legal & General Capital and Schroder UK Real Estate Fund, has announced that Frasers Group plc will be taking 40,000 sq ft at the scheme for its Sports Direct, USC, GAME and Evans Cycles brands.
16 Feb 2021
Located within Princess Square – which has undergone a £30m refurbishment – the new brands will be making their mark on the scheme as part of the continued transformation of Bracknell town centre into a modern mixed-use destination.
The addition of Sports Direct and Evans Cycles will further complement the leisure offering at The Lexicon, as it joins Pure Gym and Gymfinity, as well as other recent signings which include Mediterranean restaurant chain The Real Greek and casual wear retailer Crew Clothing.
The next phase of the town centre’s redevelopment is due to start this month with £950,000 of funding secured from the Thames Valley Berkshire Local Enterprise Partnership to pave the way for the eagerly anticipated Deck development. The Deck will provide a new covered public space which will contain new shops, bars, restaurants, leisure, and entertainment facilities, to deliver a vibrant destination and add to Bracknell’s cultural appeal while also improving the town’s night-time offering.
The Lexicon is successfully combining innovative retail, placemaking and regeneration to enhance both Bracknell’s day and night-time economy, with Sports Direct now joining a strong retail daytime offering while The Deck is set to become the next important step in making the town centre ‘The’ new regional place to be in the evening.
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Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
*as at HY 2023
Legal & General Capital (LGC) is Legal & General Group’s alternative asset platform, creating assets for Legal & General Retirement and third-party clients in order to achieve improved risk-adjusted returns for our shareholders. LGC has built its capabilities in a range of alternative sectors, including in residential property; specialist commercial real estate; clean energy; alternative credit; and venture capital, which are all supported by long-term structural growth drivers, meet a financing gap and respond to a scarcity of supply that is underpinned by enduring societal needs.
Its purpose is to invest society’s capital for society’s benefit. Investing in the real economy and supporting the Group’s focus on climate and inclusive capitalism, LGC’s investments create jobs, change lives and contribute towards a net zero carbon future.
Legal & General has invested over £29bn in levelling-up regional economies, including through major UK-wide regeneration schemes and has recently made a commitment to enable all its new homes to operate at net zero carbon emissions from 2030.
*at 31 Jun 2021