focus on bracknell .... continued
Is The Lexicon the catalyst to a new Bracknell image?
Everyone we spoke to highlighted the positive transformation that The Lexicon will bring to the town, creating “an additional strong physical, social and cultural heart” as Cllr Marc Brunel-Walker termed it.
But, will it be enough to change Bracknell’s image as a tired, dated, commuter- orientated town into ‘the place to live and work’?
Nicholls felt the town already met that fresh description: “Bracknell has the enviable status of being an immensely popular home for commuters into London as well as providing its own, thriving economic hub of large, multi-national companies which employ local people as well as many others from surrounding towns.
Hothi concurred: “Bracknell is already becoming a more desirable place to live and work.” Fryer felt Bracknell’s image was largely a mis-conception. “Most people who work here like working here.”
Once completed, The Lexicon shopping experience “will be the talking point of the town” said Cheung, providing jobs, increasing retail footfall, bringing visitors and reducing the need for residents to travel to other nearby towns.
Durden added: “A huge amount of local expenditure is lost to other town centres around Bracknell. The Lexicon should bring that ‘spend’ back to Bracknell.”
As a joint developer of The Lexicon, Russian hoped that Bracknell residents working in a shop or leisure complex in another local town might now be considering “the opportunity to work almost on their doorstep rather than commuting to outlying towns.”
Finnis commented: “In some respects Bracknell has struggled to compete with its neighbouring Thames Valley towns but the new facilities will help redress that balance. The Lexicon complements the new residential being delivered throughout the borough which will help attract new residents and future employees for local businesses.”
While The Lexicon would bring a fresh evening economy and many more local jobs, Hothi pointed out: “This is a fantastic place to start Bracknell’s development but obviously this will have to be built upon, perhaps with more housing or spaces for smaller businesses.”
Durden agreed, urging Bracknell to embrace its new town-centre status, “the key to a bright and vibrant future”. An increase in quality office tenants, plus cultural events and other activity ‘draws’ such as pop- up shops, to encourage people to use Bracknell’s services and amenities would also be vital in changing perceptions.
The Lexicon is actually part of a seven-year borough-wide investment of more than £760 million across education, healthcare, roads, public transport, leisure, and housing, Nicholls highlighted.
Prosser remarked that the newly refurbished Bracknell and Wokingham College shines like a beacon at the top of the town, hosting a spectrum of courses to help create a fully employed workforce. (All Bracknell Forest’s maintained secondary schools and the local college are rated as ‘good’ or ‘outstanding’.)
The Lexicon funders, L&G and Schroders, and the council had put a lot of time, effort and money into overall improvements, greening and softening the town’s centre with a design ethos of ‘bringing the forest into Bracknell’ – “comprehensively making public realm refurbishments and environmental improvements to highways and car parks for example, so the town won’t look part-new part-old,” noted Russian.
“Our aim is to make people feel good about the location in which they have chosen to be.”
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The Look Out Discovery Centre Build it, and they will come!
“Infrastructure precipitates growth; we have seen this in many regional centres in the UK,” said Finnis. “JLL forecasts that the new amenity delivery will have a similar, very positive impact on Bracknell. Occupiers want to be located in amenity-rich locations that are attractive to existing and new staff.”
Prosser reiterated: “Regeneration, new shopping and leisure centres always brings fresh life to any town or city. You only have to look at Reading (the Oracle), Camberley (The Atrium) and Basingstoke (Festival Place) to see that it kick-starts an emotional frisson and building boom. It is the “economic domino” that will bring the township community to Bracknell, and young and old alike from far and wide – like bees to the honey-pot.”
Durden highlighted the transformation of Bracknell’s office stock over the past three to five years, vindicated by steady rental growth. Even so, Bracknell’s rental levels remain below rival office centres and attractive to south-west London occupiers looking to relocate ‘out-of-town’.
Fryer and Russian concurred that like other local council areas, Bracknell is under housing pressure, but has adequate residential space potential, and fresh housing development currently ongoing.
Russian also mentioned mixed-use and conversion projects such as at Bracknell’s Enid Wood House and Station House. “Converting redundant offices near the town centre into accommodation has got to be a good thing for Bracknell.”
Brunel-Walker highlighted the town’s projected 3,200 new homes in the next five years – double that of the past decade. “While property prices begin to recognise our transformation, they remain highly competitive and attractive to businesses and homebuyers alike, and supply of new housing to the market is apace with investment.”
Continued overleaf ... THE BUSINESS MAGAZINE – THAMES VALLEY – SEPTEMBER 2016
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