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08 March 2017

  • Brief

Bracknell Regeneration Partnership (BRP), a JV between Legal & General and Schroders was seeking to create a new retail and leisure destination by re-developing Bracknell town centre. 

  • Issues 
  • What would be the appropriate size for the development?
  • What is required to attract local affluent residents?
  • Current opinion of Bracknell shopping was very poor - barriers to overcome this which needed exploring
  • How to attract retailers (including some who had traded unsuccessfully previously and exited the town e.g. M&S)
  • Particular issue for the target department store operator Fenwick (Bentalls) which currently trades in a small, under invested store and needed to feel confident that the re-vitalised town centre would be attractive to the affluent local catchment
  • What FSP did – base research
  • Carried out full capacity and impact study to quantify the opportunity for Bracknell
  • Produced predicted catchment, demographic profile and market size
  • Cinema and Food & Beverage opportunity assessed
  • Review of competing centres
  • Identification of similar locations current and future
  • Conducted focus groups of key target shoppers (affluent ABC1’s) to identify key drivers/aspects of retail offer to encourage visits. In the case of Bracknell the difference between target customers aspiration and initial vision was sufficient to produce significant reworking of the scheme. A new set of stimulus material was produced and a further set of focus groups convened including a number of previous respondents
Bracknell Regeneration Project - FSP Research
  • Key Outputs
  • Full research report plus appropriate extracts to stakeholders
  • Workshop with BRP including architects and project management to discuss key findings and implications for the scheme design and tenant mix
  • Data to PR/branding consultancy to inform the workshop which produced The Lexicon brand
  • Information for leasing brochure, B2B and B2C marketing
  • What FSP did – implementation
  • FSP is working as part of The Lexicon team including production of bespoke leasing documents for target retailers,  advice on rent affordability and turnover estimates to assist rent negotiations
  • FSP supported the Council with a presentation to UKTI
  • Meetings were held with local employers including a survey on likely Food & Beverage usage once The Lexicon is open  
  • Outcomes
  • The Lexicon will open in September 2017.  Major signings to date include Fenwick, M&S, H&M, River Island, Primark, TopShop, Fat Face and Pandora. The 12 screen Cineworld cinema is predicted 750,000 admissions and is supported by a range of restaurants including Carluccios, Wagamama, Zizzi and Pizza Express.
  • New brand developed for the centre (informed by FSP focus group research)
  • Marketing team using FSP data to inform strategy/PR
  • FSP also working on the next Phase of The Lexicon – The Deck which will further extend the leisure and restaurant offer in Bracknell 
FSP Research Bracknell