Bracknell: The Town Ready to Take Reading’s Crown
The Thames Valley has a new contender for the crown as Bracknell property prices rise by 19% more than Reading over the last 20 years.
While Reading has long been considered the main focus of the Thames Valley, Bracknell’s relative affordability, exceptional growth and comparable career opportunities is putting one of the UK’s most successful ‘New Towns’ at the top of investor wishlists.
Drawing incredible demand from investors, businesses and professionals alike, Bracknell is using the success of UK tech and the wider Thames Valley region to accelerate its own growth.
With property prices in Bracknell currently sitting at around £398,000, nearly £37,000 less expensive than Reading at £435,000, the new town is seeing a renaissance kickstarted by a multi-million pound regeneration project.
Bracknell Regeneration Project
Anchored by the £240 million shopping centre The Lexicon, Bracknell’s long-term regeneration plan is set to run until 2032. Made up of Bracknell Forest Council, Schroder UK Real Estate and Legal & General Capital, phase one of the partnership completed in 2011 and is still ongoing. Worth an estimated £770 million, the wider project is creating brand new services, 1,000 new homes alongside the transformation of the town centre and more.
With The Lexicon now 92% filled, the results of this new development have become apparent – Bracknell town centre has risen by over 200 places in the Trevor Wood Associates ‘Going Shopping: The Definitive Guide to Shopping Centres’ rankings for 2019. As the first post-war New Town to have experienced substantial regeneration, Bracknell is a prime example of how retail and leisure can push locations to new heights.
With £30 million worth of regeneration still yet to happen in redeveloping Princess Square and The Deck, along with other regeneration including the development of a flagship £6 million Waitrose store that opened up in 2011, all of which has contributed and is still contributing to Bracknell’s leading performance against Reading.
Bracknell Technology Sector
Bracknell continues to be a hub for the UK technology sector, expanding on the foundations that made it a success in the first place. Home to global tech brands such as HP, 3M and Fujitsu, Bracknell has the career opportunities to attract ambitious, young professionals that want to work in market-leading businesses. In turn, this has driven property prices to new heights since 1999, putting Bracknell ahead of Reading in terms of price while also cementing the town as an affordable alternative for those that want to work in Reading and live elsewhere.
According to Andy Foote, Director of SevenCapital, “We’re seeing smaller pockets of the country redevelop and emerge as important commercial, retail and technology hubs. They offer serious potential for high, consistent growth but it can be difficult for international buyers to see where these hotspots are”.
“A decade ago it was easier, London was the prime target. Now the capital is starting to lose its appeal after hitting massive peaks, it’s these unexpected regional areas that are really starting to reap the benefits. It just means investors need to do their homework to make sure they’re investigating the right markets and these emerging hotspots.
“At SevenCapital, we’ve already seen increasing interest in Bracknell amongst our client base, due to its proximity to London, Reading and the wider South East as well as its accessibility as an entry point versus projected growth.”
For investors, Bracknell’s renewed success and performance against Reading has made it a top destination for both investors and tenants. If you’re looking for an emerging hotspot with clear access to the traditionally popular London market, Bracknell is an example of a town benefitting from an exciting vision of regeneration.
As part of this £770 million regeneration project, we’re also seeing new developments within the commercial and residential sectors. The Grand Exchange is a key residential development and a game-changer for the professional market. With sophisticated penthouse-style residences and world-class amenities, The Grand Exchange is designed specifically for the modern tenant and represents the next generation in luxury living. Discover the development that is redefining the Bracknell lifestyle.