Mace announced as main contractor and further pre-let confirmed as stakeholders celebrate Bracknell Groundbreaking
The Bracknell Regeneration Partnership ("BRP"), a 50:50 Joint Venture between Legal & General Capital ("LGC") and Schroder UK Property Fund ("SPF"), together with Bracknell Forest Council ("BFC"), announce that Mace, a British-owned international construction and consultancy company, has been appointed as the main contractor on the £200 million regeneration of Bracknell town centre.
Construction workers will be on site in late-March, carrying out preparatory earthworks, before foundations are commenced in late spring, with steel work beginning in June 2015. The building is programmed to allow the first retailers to start fit out work in August 2016, in order for the scheme to open in the spring of 2017.
BRP also announces that it has successfully secured popular Asian cuisine restaurant chain, Wagamama, to join the town centre leisure line up. Due to open its doors in spring 2017, Wagamama has taken 3,200 sq ft immediately adjacent to the new 12-screen Cineworld multiplex.
A VIP groundbreaking ceremony is being held today in Charles Square to celebrate the start of works on the major development of the Northern Retail Quarter, following the news that BRP and BFC’s Development Agreement has gone unconditional and BRP has entered into a building contract with Mace. Speakers include Councillor Paul Bettison, Leader of Bracknell Forest Council, James Lass, Fund Manager at Schroder UK Property Fund, Nigel Wilson, Chief Executive of Legal & General, Mark Fenwick, Chairman of Fenwick department stores and Gareth Lewis, Chief Operating Officer for Construction at Mace.
Gareth Lewis, Chief Operating Officer for Construction at Mace, said: "I am delighted that Mace has been appointed main contractor for this significant regeneration scheme for Bracknell. Mace has a strong track record locally, having completed the construction of Garth Hill College in 2011. We’re pleased to be working again with both Legal & General and Schroders. The regeneration project will have a positive impact on Bracknell and local community and we can’t wait to get started."
Paul Stanworth, Managing Director of Legal & General Capital, said: "This is an exciting day for Bracknell Town Centre, with a really modern vision becoming reality. We are delighted to appoint a quality contractor, Mace, to lead the construction project and to continue to announce popular international retailers that will take prominent positions within the vibrant scheme. We look forward to delivering this landmark project in time for a spring 2017 opening."
James Lass, Fund Manager for Schroder UK Property Fund, commented: "The appointment of the main contractor is a major milestone and confirming such an experienced and respected name as Mace underlines our commitment to providing Bracknell with a scheme of the very highest quality. It is clear that occupier interest is building strongly as we move towards commencing with works on this transformational development in the Spring."
Cllr Marc Brunel-Walker, executive member for Economic Development and Regeneration at BFC, commented: "It’s great news that Mace are signed up to build our new £200m town centre and we’re very much looking forward to having contractors on site from March. This announcement, combined with the groundbreaking ceremony and the development agreement going unconditional, means that it is all systems go for Bracknell town centre’s regeneration."
NOTES TO EDITORS
Schroders has managed property funds since 1971 and currently has £11.6 (€14.5 /US$19.9)) billion of gross property assets under management as at 30 June 2014 and has around 100 property staff located in 9 offices across the UK and Europe.
Most of the property funds referred to are unauthorised collective investment schemes as defined in the Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full information about these funds is only available to those exempt from the restriction.
For further information about Schroders’ property business visit www.schroderproperty.com
Legal & General Group Plc
Established in 1836, Legal & General is a leading provider of insurance, savings and investment management products in the UK. The Group has a market capitalisation of £16.2bn (as at 19
th February 2015) and is responsible for investing £676bn worldwide (as at 30th September 2014) on behalf of investors, policyholders and shareholders. We have over seven million customers in the UK for life assurance, pensions, investments and general insurance plans and over one million customers in the US who rely on us for life assurance. In 2013, Legal & General's profits before tax (on the IFRS basis) were £1,134m and earnings per share were 15.20p for the period, an increase of 10% for both respectively.
For more information on Legal & General, please see http://www.legalandgeneralgroup.com
Mace is a British owned international consultancy and construction company employing over 4,500 people, across five continents with a turnover in excess of £1.18bn. Mace’s business is programme and project management, cost consultancy, construction delivery and facilities management and is truly multi-disciplinary with services spanning the entire property and infrastructure lifecycle.
Mace has three strategic sectors serving clients in the private, public and infrastructure sectors and five strategic hubs in Europe, Middle East & North Africa, the Americas, Asia Pacific and Sub-Sahara Africa that service over 70 countries. For more information visit:
Mace media contact: Ally Hellyer - Alexandra.Hellyer@macegroup.com / +44 (0)20 3522 3249 / +44 (0)7909 868 541
For more information please contact:
PR MANAGER, LEGAL & GENERAL CAPITAL AND REAL ASSETS, LGIM (PROPERTY, INFRASTRUCTURE AND ALTERNATIVE FINANCE)
t: + 44 (0) 203 124 2777
m: + 44 (0) 7718 395 279
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