The Lexicon in Bracknell has reported increased footfall and spending and announced three new lettings.
The centre, a joint venture between Schroders Capital and Legal & General Capital, has announced the signing of café and bar chain Lounges, desert bar Amorino and dining ware brand ProCook, which have signed up for a combined total of 6,600 sq ft at the centre.
In addition, jewellery retailer Beaverbrooks, which has been at The Lexicon since it opened in 2017, is almost doubling in size by taking an extra 1,650 sq ft. The deals make The Lexicon more that 95 per cent let.
A number of occupiers completed lease re-gearing in 2023 including H&M and Cineworld.
More than 13.6 million visited the centre in 2023: an increase of almost 20 per cent on 2022 including 1.6 million in December and more than 20,000 bookings were taken for Christmas activities.
Average consumer spend was up 24 per cent compared to 2022 and some of the larger units, reported their best results since opening.
New occupiers in 2023 included Giggling Squid, Søstrene Grene, Robert Dyas, Five Guys, ChopStix, German Doner Kebab, Tortilla and The Fragrance Shop.
Rob Morris, general manager of The Lexicon, said: “We’re delighted that The Lexicon’s diverse range of retail, leisure, and dining operators, supported by our award-winning events programme, has resulted in impressive footfall across 2023. It’s been great seeing new visitors, young and old, coming to the centre this year, and we hope to build on this success in 2024 with the arrival of more new retailers and further events throughout the next 12 months.”
Tom Woolven, asset manager for Schroders Capital’s real estate team, said: “Whilst the national retail sector has faced a tough 2023, The Lexicon’s strong footfall growth, increased consumer spending, and recent leasing activity demonstrates the value in using active asset management to build a strong portfolio of retailers and brands.
“The Lexicon is a thriving retail scheme, benefiting from a safe, attractive retail environment for shoppers and retailers alike. We’re confident that this growth will continue in 2024, and we are excited to already be welcoming even more occupiers to the centre and look forward to sharing news of more big-name arrivals over the coming weeks.”
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