Crown Estate Invests in Six Major UK Regeneration Projects

Crown Estate has secured a 50% stake in Lendlease’s six UK regeneration projects, including redevelopment plans above the new HS2 terminal at Euston Station. This is reported by the railway transport news portal Railway Supply.

The joint venture will accelerate development at key locations, including Birmingham’s Smithfield Market, Thamesmead Waterside, Stratford Cross, High Road West, and Silvertown Quays.

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Together, these projects aim to deliver up to 26,000 homes and 900,000 square meters of space for offices and laboratories, focusing on life sciences and housing innovation.

Crown Estate CEO Dan Labbad highlighted the importance of the Euston scheme, which will prioritize research facilities and residential space to meet long-term national goals.

The partnership reflects Crown Estate’s mission to support inclusive economic growth, create jobs, and generate returns for the UK’s public finances.

Labbad noted that the joint effort, supported by local and national government, shows how public-private collaboration can unlock large-scale regeneration and sector growth.

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At Euston, Lendlease continues work on the 24-hectare redevelopment site for Network Rail, collaborating with architectural firms like Grimshaw and ACME.

A new lead architect is expected to be appointed soon, focusing on a life sciences-led masterplan aligned with government priorities.

HS2 construction at Euston was paused in March 2023 due to cost overruns, prompting a review of design and budgeting to keep the project within limits.

In October, Chancellor Rachel Reeves reaffirmed plans for HS2 trains to reach Euston and confirmed tunneling funding from Old Oak Common to the terminal.

Although no new station funds were announced, the UK government’s commitment ensures continuity and boosts long-term confidence in the area’s regeneration.

Crown Estate, managing £16 billion in assets, contributed £1.1 billion to the Treasury in 2024, reinforcing its role in national development and responsible investment.

This collaboration marks a bold step to address UK growth challenges by supporting science, housing, and infrastructure through a future-focused investment approach.

Source: www.architectsjournal.co.uk

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