The long-delayed regeneration of Bracknell town centre moved a step closer this week.
Legal & General and Schroders Exempt Property Unit Trust, the two former rivals for the redevelopment, and the town centre’s major landowners have submitted an outline planning application for a £750m retail-led scheme on a 90-acre site.
Their Bracknell Regeneration Partnership is proposing 600,000 sq ft of shops, 160,000 sq ft of bars, restaurants and cafés, up to 670,000 sq ft of new and replacement business space and 1,000 homes.
The Richard Rogers Partnership design centres on a covered town square called Bracknell Eye.
BRP development director David Gregory said: “A scheme has been touted for 20 years, but this is the beginning of the end. The two competing landowners have now come together, and for the first time everyone has a common set of objectives.”
Rival proposals by Legal & General and a joint venture between Allied London and Schroders were called in by the secretary of state in 2001.
The deadlock was only broken when Bracknell council drew up a joint masterplan for a more mixed-use scheme in 2002.
In early 2003, the two rivals finally agreed to work together, which led to Allied London selling its stake to them. Drivers Jonas is advising on planning. Stanhope is project manager.
References: EGi News 26/11/04
