In a series of blogs focusing on events and developments in the local region, we take a closer look at the Bracknell Regeneration project, and how it might affect the property market in the surrounding areas.
What is the Bracknell Regeneration?
Bracknell town centre is currently undergoing a £240 million regeneration project. Plans are in place to rejuvenate the central shopping district and create an exciting new destination for residents and visitors alike.
Opening in spring 2017, the new development has been recently named as The Lexicon Bracknell, and will feature 60 new shops, family-friendly restaurants, a cinema, new apartments and a 1,300 space car park.
There are also plans to remodel the wider town centre with new landscaping and public entertainment spaces, bringing more greenery from the outside forest into the centre of the town.
What’s planned?
Alongside the 12 screen Cineworld complex and a number of new flats and apartments from office conversions, the retailers and restaurants that have made a commitment to the project include:
Shops
- New 80,000 sq ft Fenwick store
- 2 storey Marks & Spencer
- Primark
- H&M
- 3 storey Next
- Topshop
- Topman
- Dorothy Perkins
- Burton
- River Island
Restaurants
- Carluccio’s
- Zizzi
- Coast to Coast
- Gourmet Burger Kitchen
- Pizza Express
- Wagamama
- Nando’s
- Las Iguanas
How will it affect the area?
Bracknell Forest is already listed as one of the top 20 places to live in the country*. The Lexicon development will further benefit the area and cement the region as a very desirable place to reside.
Bracknell’s reputation for shops, food outlets and night time activity has previously let it down, forcing many families to go shopping or eat out further afield, in places like Wokingham, Camberley, Windsor or Reading.
The regeneration will change all of that, enticing families back into the town as a vibrant destination both day and night. In turn, this is likely to see more and more buyers attracted to the area, as they move out from the suburbs of London and relocate further down the Waterloo line.
Coupled with the great transportation links, the new Lexicon development is likely to prove popular for those considering a move to the region.
Selling and buying during Bracknell’s regeneration
With the development plans long in place, and construction now four months underway, we have already seen a significant increase in prices in the local area over the last 12-18 months, echoing our belief that the Lexicon is making Bracknell more desirable than ever.
House prices have been subject to a significant jump in the last 18 months. The converted office block apartments in the town are proving extremely popular too, commanding a premium price compared to those out of the centre and attracting a number of
investment buyers.
It’s likely that prices will continue to rise, so if you are considering a move to the Bracknell area, now would be a good time to consider your options.
For those selling, it’s difficult to say exactly how sustainable prices will be. Ideally you’ll want to wait until after the development has finished to command the best price.
If you’re interested in selling or
buying in Bracknell and would like to explore your options,
contact our local Bracknell estate agents for expert advice from our team of estate agents.
*According to the annual Halifax Quality of Life Survey, December 2014
Correct at time of publication. The views and opinions expressed herein are those of the individual contributor and do not necessarily reflect those of the Chancellors Group of Estate Agents Ltd or its subsidiaries. References to legislation, best practice and other matters with legal implications such as fees, rules and processes are included for information and editorial purposes only and are not authoritative, nor should they be interpreted as advice. When in doubt you should only take advice from an industry professional or solicitor where appropriate. E&OE.
