THE COMPANY behind The Lexicon is buying up land around the area in a bid to build 1,500 homes.

Legal & General, which forms the Bracknell Regeneration Partnership along with the Bracknell Forest Council, has acquired a 272-acre site in Arborfield, Wokingham.

The new development will include 1,500 homes, a school, shops and opportunities for employment.

It will represent the second major site being developed in the area, with the company currently building 1,000 homes in Crowthorne.

Nigel Wilson, CEO of Legal & General, said: “The Budget creates the right backdrop for a real boost to one of the key areas of infrastructure – housing supply. This is the first substantive supply side policy for almost forty years, since council houses were sold in the 1980’s.

“Legal & General will therefore accelerate our roll-out of housing and associated infrastructure including on larger sites where we can create whole new communities like Crowthorne and Arborfield.

“We welcome the Chancellor’s stamp duty reform, which helps to address inter-generational unfairness, and would like to see this for young and old alike, enabling all age groups to access homes that best suit their needs.”

Over a third of the new site will be made up of affordable housing.

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