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Deal Struck for Euston Redevelopment that Includes 2,000 Flats
- The Crown Estate agreed on May 19, 2025 to take a 50% stake in a joint venture with Lendlease to redevelop London’s Euston station and five other schemes in London and Birmingham.
- This deal follows plans to back major projects because the Crown Estate and Lendlease estimate a combined portfolio value of up to £24 billion and potential to create about 26,000 homes and 100,000 jobs.
- The 60-acre transformation at Euston aims to build around 2,000 apartments plus cafes, shops, and leisure facilities, but faces delays and uncertainties tied to the suspended HS2 high-speed rail project, estimated to cost around £80 billion.
- Lendlease estimates the Euston development could cost £5.4 billion and take until 2040 to complete, while the Crown Estate also holds stakes in major London schemes including Silvertown, Stratford Cross, Thamesmead Waterfront, and High Road West.
- Dan Labbad, Crown Estate chief executive, said they seek to create jobs, stimulate growth, and generate UK income with strong government support, while Chancellor Rachel Reeves pledged to boost home ownership and economic growth through this plan.
11 Articles
11 Articles
Crown Estate JV to deliver six development schemes
In a joint venture with Lendlease, The Crown Estate will focus on Lendlease’s undeveloped land management portfolio in London and Birmingham The Crown Estate JV will bring 100,000 jobs in building 26,000 homes and 10m sq ft of workspace. The programme has an estimated value of £24bn. One development is in Birmingham, and five in London The schemes are as follows: 60 acres above and around Euston Station in London, with the potential to deliver …
Crown Estate partners with Lendlease to deliver £24bn in housing
Crown Estate and Lendlease have agreed a £24bn partnership to deliver new housing and science hubs across the UK. The deal will see the Crown Estate invest in Lendlease’s UK land and projects, backing the Government’s Plan for Change. The venture is expected to create 100,000 jobs and 26,000 homes, with a third set to be affordable. The pipeline includes plans for around 10 million square feet of workspace and labs, aiming to support the Gover…
Crown Estate strikes deal to back London Euston redevelopment - Jersey Evening Post
The Crown Estate has struck a deal with Australian developer Lendlease to back major projects including redeveloping London’s Euston station. The monarch’s property company has agreed to take a 50% stake in the new joint venture, overseeing six development schemes in the capital and Birmingham. This includes a 60-acre transformation of the space above and around Euston station, creating cafes, shops, leisure facilities and some 2,000 apartments.…
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