How will new developments in Bracknell and Reading affect property?
Conveniently located on the outskirts of London, Bracknell is in the midst of its most exciting regeneration project. The town has already benefited from the resurgence of The Lexicon – an integral part of Bracknell’s wider £770 million investment, and with many more redevelopments on the horizon, the town’s growth shows no sign of slowing down.
The Lexicon was Bracknell’s biggest transformation since the construction of the original New Town in 1949, but as the town establishes itself as a pinnacle location along the London Commuter Belt, it’s expanding popularity is demanding more contemporary living solutions. Join us as we discover the latest regeneration schemes in Bracknell and Reading, and what’s in-store for this ever-expanding area.
Download our UK Property Guide
Looking to invest in UK property? Make sure you’re fully prepared with our 2021 UK Investment Guide.
Filled with useful insights into new developments, rental yields, capital growth and upcoming redevelopment, it’s everything you need to know about property investment in the UK.
Previously the head office for NHS Berkshire, Fitzwilliam House is set to undergo an extensive redevelopment project. The building has served a variety of different purposes since its inception in 1973, with it originally being a dedicated office space for professional workers. As part of Bracknell’s wider regeneration, Fitzwilliam House is being restored back to its original purpose, but on a much bigger scale.
As it stands, the current plot is around 4,680 sqm, but is expected to reach 13,000 sqm with the current expansion plans in place. This new and improved office space will span seven floors and include a mixed-use lobby, plant room and roof terrace. Being just a seven-minute walk from Bracknell train station, Fitzwilliam House will benefit both the residents of Bracknell and inward commuters.
One Thames Valley
With an initial completion date of 2021, No.1 Thames Valley not only exceeds expectations in terms of style and design, but also its own construction timeline. This iconic development completed in September 2020, and is now showcasing Bracknell’s answer to contemporary living.
Encased by a mesmerising glass entrance, No.1 Thames Valley provides residents with life without boundaries, featuring a vast atrium, exclusive resident lounges and executive suites to inspire, recharge and invent. While No.1 Thames Valley replicates the luxury of city living, the private gardens offer a peaceful oasis, to give the modern tenant the perfect balance of live, work and play.
Arguably one of the most anticipated redevelopments in Bracknell, construction for The Deck is scheduled to start this month. Emerging from a £12 million investment, this mixed-use complex will be a new hotspot for the town, and will include restaurants, bars and entertainment spaces.
The Deck is the final addition of the regeneration trio in Bracknell town centre, linking with Princess Square and The Lexicon. Upon completion in 2024, this new landmark will aim to meet the demands of Bracknell’s expanding population, with the increased variety in amenities offering residents the perks of urban life at a fraction of the price.
Mixed Use Trio
A newly-formed partnership between the Berkshire council and the housing developer, Countryside, is contributing to Bracknell’s ongoing reconstruction. Since its formation, the project has already completed two phases of regeneration, with the third set to begin this year. This particular project plans to rebuild three sites across Bracknell, including Market Street, Jubilee Gardens and Coopers Hill.
With an investment of over £124 million, this joint venture will develop an extensive mixed-used complex; an anticipated 400 homes, a new health centre, gym and restaurant. As an integral part of the council’s overall vision to transform Bracknell, this regeneration intends to deliver extensive office space, new community areas and public art, offering its evolving population the latest amenities.
The Grand Exchange
The first of its kind, The Grand Exchange is a contemporary residential development set to take the property market by storm. This unique project will epitmose luxury, boasting exclusive resident-only facilities and private landscaped gardens to replicate an esteemed community feel for tenants.
Forecasting a completion date of 2022, The Grand Exchange coincides with Bracknell’s multi-million pound regeneration, due to the site previously being known as the town’s local bus depot. The Grand Exchange will benefit from the convenience of this location, with this prestigious development situated on the London Commuter Belt to sustain Bracknell’s outward travellers.
The substantial amount of investment that is being poured into Bracknell is a catalyst for the predicted increases in both property and rental prices in the coming years. While rental costs are expected to rise by around 8% by 2025, property prices are set to surge, with an estimated growth of 17.5% in the same period.
Regeneration schemes spread far and wide across Berkshire, with Slough and Reading following closely in the footsteps of Bracknell. Station Hill forms the second phase of Reading’s latest regeneration scheme, which aims to deliver an ambitious mixed-use complex by 2022. The first stage of this scheme redefined the expectations of living, with the development of over 370 modern homes, along with 1,151 sqm of new retail space.
Aiming to be bigger and better, the current phase for Station Hill will transform Reading’s town centre to include sustainable homes, increased living space and multiple leisure facilities. This redevelopment plan is said to be the first stage of a ‘long overdue’ regeneration of Reading, which could eventually snowball into a project of over 1,000 new homes and amenities.