Cllr Marc Brunel- Walker, Executive Member for Economic Development and Regeneration, said:
“The work to transform Princess Square is another step in the complete regeneration of Bracknell town centre, so I’m pleased the building work to create a modern, light and bright space has started in earnest. This will further build on The Lexicon’s success and enhance its appeal as the borough’s much-loved social and cultural heart.”
A multi-million pound makeover of Princess Square will start this month (October) as the latest stage in the town centre’s regeneration gets underway. The comprehensive programme will transform Princess Square into a modern, light, bright and airy centre to house new brands, as well as give many of the current stores a brighter, lighter new space from which to trade.
Once work is complete, anticipated to be in Spring 2020, customers can expect to see new escalators and lift lobbies, an impressive ceiling space with feature lighting, new customer seating and toilets and overall a brighter and more welcoming environment to shop, eat and relax.
The next major milestone in Bracknell town centre’s regeneration was secured following the signing of a legal agreement earlier this year between Bracknell Forest Council and its development partner, Bracknell Regeneration Partnership (BRP) – a 50/50 joint venture between Schroders UK Real Estate Fund and Legal & General Capital.
The new look Princess Square will provide customers with the perfect blend of convenience and destination shops and eateries, as a natural extension and next phase of the regeneration of the town, which saw the launch of The Lexicon just over two years ago.
A further investment phase, to turn the old Bentalls unit into a vibrant new covered public space to be known as The Deck, will conclude this phase of town centre work soon after, with new food and retail units linking The Lexicon directly with the revitalised Princess Square. With planning work already well underway for this phase, The Deck is due for completion in 2022.
In total, the refurbishment of Princess Square and development of The Deck represent a further £30m of investment by BRP and the council in affirming Bracknell’s position as the leading town centre retail destination in the area. The arrival of The Lexicon has already lifted the town to number 29 from 255 in the Trevor Woods Associates rankings for best shopping destination in the UK.