The Bracknell Regeneration Partnership, a 50:50 Joint Venture between Schroders and Legal & General Property, has agreed a pre-let to Cineworld in Bracknell, Berkshire.
The cinema chain will open a 12-screen, 41,500 sq ft cinema in the north of Bracknell’s town centre on a 25-year lease.
This latest agreement forms part of the partnership’s drive to secure key pre-lets in order to bring forward the redevelopment of the northern element of Bracknell town centre, and follows the completion of a 36,000 sq ft Waitrose supermarket.
Simon Russian, head of retail development at Legal & General Property, said: “This pre-let signifies a major step forward in the regeneration of Bracknell town centre and the delivery of a vibrant retail and leisure offer in the north of the town centre. Given its market-leading reputation and commitment to customer service, in signing Cineworld up as one of the town’s anchor tenants, we continue to prove the quality of operators that we are looking to partner with.
Ian Mason, head of UK property fund management at Schroders, added: “This will act as a further catalyst in our ability to attract major national operators to the town centre that have not previously been represented. We have a number of other leading occupiers who we are in discussions with at present.”
CBRE and Lunson Mitchenall advised BRP; Wareing and Partners acted for Cineworld.
annabel.dixon@estatesgazette.com
