Bracknell’s The Lexicon acquired by US investment trust
US-based real estate investment trust Realty Income has acquired The Lexicon shopping centre in Bracknell for around £150m.
The asset has been sold by a joint venture between Schroder Capital UK Real Estate Fund and Legal & General Capital, CoStar News has reported.
The 1 million sq ft shopping destination – which was developed by the joint venture in partnership with the local council – is home to tenants such as Marks & Spencer, Primark, JD Sports, and Next. Recent lettings include the likes of Dunelm, Levi’s, and Tesco Express. CBRE and LM (formery Lunson Mitchenall) are the scheme’s retained letting agents.
The acquisition marks Realty Income’s first venture into the UK shopping centre market, with the group having primarily focused on retail parks and supermarket investments.
JLL handled the sale.