Bracknell town centre regeneration
FENWICK COMMITS TO ICONIC BRACKNELL STORE AS TOWN CENTRE REGENERATION MOVES FORWARD
The Bracknell Regeneration Partnership (BRP) and Bracknell Forest Council are delighted to announce they have secured a major pre-letting to Fenwick, the fashion-led department store group that is synonymous with affordable luxury.
Investing in a new 80,000 sq ft store, arranged over three floors, Fenwick will be relocating from the existing Bentalls store on Bracknell High Street. Ensuring a smooth transition, Bentalls will continue to trade until the new store is open.
The new store will be located in a landmark position fronting Millennium Way at the opposite end of the street to M&S. It will be next to the new six level multi-storey car park, which it will also directly connect to. Fenwick joins retailers including Marks & Spencer, Primark, H&M and the already successfully trading Waitrose. Cineworld has committed to a new 12-screen cinema and a raft of quality restaurants are also signed up, including Carluccios, Zizzi, Coast to Coast, Gourmet Burger Kitchen, Pizza Express, Nando’s and Las Iguanas. Forming the Northern Retail Quarter, the total new space which has either been completed already or is pre-let is now in excess of 340,000 sq ft, representing over 50% of the scheme.
BRP anticipates construction starting in mid-2015, with the new development and Fenwick store expected to open in 2017. Due to become a defining feature of the new town centre with its striking, lit-up, night-time facades, plans for how the new Fenwick store will look are now available to view on the first floor of Princess Square or online at www.bracknell.co.uk.
Mark Fenwick, Chairman Fenwick Limited, said: “Bracknell is located in the heart of the affluent catchment of East Berkshire. We are now confident that BRP and Bracknell Forest Council have brought forward a Masterplan that will fundamentally change the landscaping and urban realm of the town. We are proud to be anchoring a scheme of real quality that will provide a vibrant new retail and leisure destination for the South East.”
The Bracknell Regeneration Partnership worked very closely with Bracknell Forest Council to bring this key letting to fruition. Simon Russian, Head of Retail Development at Legal & General Property, commented: "The Council's understanding of vital regeneration issues has been of invaluable help in bringing this key transaction to fruition. Their encouragement and flexibility with all parties has played a significant role in concluding this transaction successfully and they are an excellent Partner to have."
James Lass, Fund Manager, Schroder UK Property Fund, said: “This major milestone is a testament to the close and cooperating relationship we have built up with both Fenwick and Bracknell Forest Council, who have been hugely supportive throughout the process.”
Cllr Marc Brunel-Walker, executive member for economic development and regeneration, said: “To secure such a high-quality retailer as Fenwick is a major boost for the regeneration of Bracknell town centre. The Fenwick group has always been a big part of Bracknell town centre as its Bentalls store has been at the heart of our town for many years. I’m delighted this valued retailer has recommitted to be part of the town’s future. We are also pleased that both Legal & General and Schroders have publicly reconfirmed their commitment to this scheme, and recognised our contribution towards making that happen.”