Crown Estate and Lendlease Join Forces in a Game-Changing £24Bn UK Housing and Innovation Boom

In a bold move set to transform the UK’s urban and innovation landscape, The Crown Estate and global property giant Lendlease have announced a groundbreaking £24 billion partnership. Together, they’re gearing up to deliver over 26,000 new homes one-third of which will be affordable and unleash around 10 million square feet of cutting-edge labs and workspace. This isn’t just construction; it’s a massive step toward making Britain a global powerhouse in science, tech, and innovation.

This partnership is a flagship of the government’s ambitious “Plan for Change,” designed to turbocharge the economy, boost home ownership, and fuel high-tech industries. Chancellor Rachel Reeves and Minister for Investment Baroness Gustafsson hailed the deal as a strong vote of confidence in the UK’s thriving real estate and innovation sectors sending a clear message to investors and communities alike that Britain is open for bold growth.

Key development sites include vibrant hubs like Euston Station, Thamesmead Waterfront, Silvertown in London, and Smithfield in Birmingham. These aren’t just new buildings, they’re dynamic, mixed-use neighborhoods blending modern homes, smart transport links, and world-class research facilities. Crucially, this project tackles a major bottleneck: the UK’s chronic lack of lab space, which has held back life sciences innovation compared to global rivals.

The stakes are high. Matching the US life sciences clusters by 2035 could mean 67,000 new high-skilled jobs and a £4 billion boost to the economy every year. The government’s upcoming Industrial Strategy puts sectors like science, technology, and life sciences at the heart of Britain’s future and this partnership is a powerful catalyst to get there.

Thanks to the expanded powers from the Crown Estate Act 2025, The Crown Estate is now stepping up as a strategic investor, unlocking value and growth that benefit communities across the UK. Lendlease CEO Tony Lombardo calls this partnership “landmark,” highlighting how the two giants are pooling expertise to create vibrant, sustainable places where people can live, work, and innovate.

With strong government backing and a clear vision, this £24 billion venture is more than just building, it’s about building Britain’s future. Exciting times lie ahead as homes rise, labs open, and innovation hubs ignite economic growth and opportunity nationwide.