A COUNCILLOR has explained that Wokingham will not be competing with Bracknell with their new town regeneration. 

The Lexicon opened in September after a lengthy development, providing a much needed focal point to the town.

With £250m of investment behind it, the new Bracknell town centre opened with a bang, and residents from surrounding towns were left with a tang of envy.

"We're not trying to compete with Bracknell any more than Bracknell will be trying to compete with us," Councillor Stuart Munro explained at a Wokingham Borough Council executive meeting on Thursday.

"Our plans don't change at all because of the success Bracknell has had."

Wokingham is currently in the middle of a large-scale redevelopment project, which some have complained has turned the town into a building site. 

Residents of Bracknell will remember that this was the case in their town for a number of years due to the development of The Lexicon. 

Now, Cllr Munro has stated that the council is not feeling the pressure to deliver just because of The Lexicon. 

"I think we have got a pretty good healthy start to get these very valuable partners working with us already. 

"It is a very strange market that we are in, I have just recently watched a very large development in Bracknell where 60 per cent of the lets happened in the lastsix weeks before they opened. 

"I know it would be much nicer if we had it all signed up and knew that everyone was going to come and when. 

"In reality we haven't actually started the development in Elms Field.

"We are on it and our agents are on it."

When completed, Wokingham town centre will feature a new luxury cinema, as well as a new supermarket and new stores/cafes through the town. 

The town centre will not be costing the taxpayers of Wokingham, despite the hefty price tag of £150 million, much like The Lexicon, the development is being funded through a mix of Wokingham Town and Wokingham Borough councils.