The shopping destination that transformed Bracknell town centre has been purchased for around £150 million.
Realty Income, a US-based investment firm, has completed the purchase from the previous owners Schroder Capital UK Real Estate Fund and Legal & General Capital.
The purchase has been reported by CoStar News, a commercial real estate information company, and the business website Completely Retail.
The Lexicon has a 95 per cent occupancy rate, with high street names such as Primark, Next and JD Sports.
It is also anchored by the Marks & Spencer and Waitrose supermarkets, the Fenwick department store, and a Cineworld.
Realty has primarily focused on retail parks and supermarkets in the UK, according to the CoStar News report.
The Lexicon was developed by the Bracknell Regeneration Partnership, a joint venture between Bracknell Forest Council and Legal & General.
The new look town centre was opened in September 2017, with its ‘anniversary’ celebrated by the late Queen Elizabeth II in October 2018.
Recently, a bar, restaurant and music venue called Musica opened at the former TGI Fridays unit in Eagle Lane.
The Lexicon has been for sale since March this year.
A statement has been requested from The Lexicon’s management company.
At the time the sale was announced, councillor Paul Bidwell, the cabinet member for economy and regeneration on the council, stated that it was not involved in the sale.
Cllr Bidwell (Labour, Easthampstead & Wildridings) said: “The council is committed to working with commercial partners, whoever that may be, for the good of our town centre and the benefit it brings to our residents and wider economy.
“The town centre is a popular and thriving regional retail and leisure destination that has strong footfall and continues to attract new shops and businesses.
He went on to mention the council’s town centre strategy, which involves redevelopment of the ‘Southern Gateway’, which covers the town’s current bus station, the High Street car park and the ‘Eastern Gateway’, which covers Easthampstead House and the town library.
Cllr Bidwell said: “It is an important part of the town centre’s overall regeneration but it is just one part of it. Any sale would not impact the council’s own regeneration plans for the Southern Gateway, Eastern Gateway and High Street car park areas.
“This next phase of regeneration is an exciting opportunity to provide new shops, cafes, leisure and cultural facilities, play areas, employment, parking, and a range of housing to benefit our whole community.”
The sale of The Lexicon was handled by the asset management company JLL.
