Schroders and L&G sign up Frasers to Lexicon

Frasers Group has signed for 40,000 sq ft at Schroders and Legal & General’s Lexicon shopping centre in Bracknell. The deal sees Frasers Group take space for its Sports Direct, USC, Game and Evans Cycles brands at the Lexicon, run as a joint venture partnership between Schroder UK Real Estate Fund and Legal & General Capital. The stores will be based in the Lexicon’s Princess Square area, which itself has undergone a £30m redevelopment. A redevelopment of the shopping outlet is part of an ongoing revamp of Bracknell town centre. The next phase will start this month with £950,000 of funding secured from the Thames Valley Berkshire Local Enterprise Partnership for the Deck development, a new covered public space. Harry Pickering, Schroders’ head of UK retail described the Frasers deal as an “important milestone for Bracknell’s regeneration”, adding that “brands are committed to the popular town centre as we look to plot a pathway to recovery after the pandemic subsides”. The joint agents for the Lexicon are CBRE and Lunson Mitchenall. To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette Photo by Stuart Bailey Photography