22 Jan Spotlight on Bracknell Retail Market
For Page Hardy Harris the Bracknell Retail Market is buoyant, business continues to be strong in terms of the number of retail transactions and rents achieved. Bad transport links and a lack of parking spaces meant people living in north Berkshire and south Oxfordshire travelled to Reading – the Thames Valley’s capital – to shop. Now there are other options such as The Lexicon in Bracknell.
Shopping centres attract consumers with integrated parking, mix of food & drink outlets, cinema and range of branded shops usually with at least one department store. The Lexicon is a prime example of an accessible and attractive retail centre; the footfall has shown that it is an environment that people want to visit and that satisfies other needs such as social, entertainment and high end retailing.
The Retail outlook in Bracknell & surrounds
Catchment area affluence is set to increase, with more people – and more money – moving to Bracknell. House prices are 42% higher than the UK average. Jobs are predominantly white collar; The primary segment contains 87,000 jobs of which 67% are office jobs. 15,000 jobs are within walking distance of Bracknell town centre. There’s a large digital technology labour force The catchment contains the largest digital technology labour force in the UK, with employees working for the Dell, Siemens, Honeywell and others. (Source: Bracknell Forest Council Thornton Report, 2014).
Bracknell looking forward
More people will live here
There are over 1,000 new apartments planned for the town centre. In all, over 10,000 new homes will be built by 2026. (Source: Bracknell Forest Council Housing Assessment Report).
Shoppers will be more affluent – and there’ll be more of them
The proportion of expected shoppers forecast to be either Affluent Achievers or Rising Prosperity in the catchment area is 77% above the UK average. Affluent Achievers are expected to account for 39% of shoppers.
Bracknell’s affluent catchment is set to triple in size to 879,000 by the end of 2017, and to 1 million by 2024.