Bar and café chain Lounges will occupy a 3,400 sq ft space at The Lexicon, whilst Amorino, the international gelato and dessert brand, and ProCook, the kitchen and dining ware retailer, will also be joining the scheme.
Meanwhile, jewellery retailer Beaverbrooks – which has been a tenant at The Lexicon since the scheme’s opening in 2017 – will upsize by 1,650 sq ft to create a new 3,350 sq ft flagship store.
The new leases bring The Lexicon – which is owned by a joint venture between Schroders Capital and Legal & General Capital – to 95% let.
The signings also follow a 2023 which saw a number of new operators open at the scheme. Last year, The Lexicon welcomed the likes of Thai eatery Giggling Squid, which opened a 4,750 sq ft restaurant, as well as Danish retailer Søstrene Grene and homeware store Robert Dyas.
Elsewhere at the scheme, American burger chain Five Guys opened a 3,500 sq ft outlet, its first restaurant in Berkshire, whilst Pan-Asian eatery Chopstix made its Bracknell debut after signing a 10-year lease for a 2,000 sq ft unit. German Doner Kebab and Mexican restaurant Tortilla also opened at The Lexicon, taking 2,000 sq ft and 700 sq ft spaces respectively.
A number of occupiers also completed lease re-gears in 2023, including H&M and Cineworld. Meanwhile, The Fragrance Shop opened a new 1,300 sq ft outlet, replacing Crew on Upper Braccan Walk.
The new occupiers helped bring over 13.6 million visitors to The Lexicon in 2023, a year-on-year increase of almost 20%. The scheme welcomed 1.6 million visitors in December alone. Average consumer spend also increased, growing by 24% compared to 2022.
Tom Woolven, asset manager for Schroders Capital’s real estate team, said: “Whilst the national retail sector has faced a tough 2023, The Lexicon’s strong footfall growth, increased consumer spending, and recent leasing activity demonstrates the value in using active asset management to build a strong portfolio of retailers and brands. The Lexicon is a thriving retail scheme, benefiting from a safe, attractive retail environment for shoppers and retailers alike. We’re confident that this growth will continue in 2024, and we are excited to already be welcoming even more occupiers to the centre and look forward to sharing news of more big name arrivals over the coming weeks.”