Crown Estate and Lendlease Launch £24 Billion Partnership to Revolutionize UK Housing and Innovation

In a groundbreaking move set to transform the UK’s urban and economic landscape, The Crown Estate and Lendlease have joined forces in a £24 billion partnership. This ambitious venture aims to unlock vast new opportunities for affordable housing and world-class innovation hubs, fueling growth in science, technology, and digital sectors that are critical to Britain’s future.

At the core of this collaboration is a shared vision to deliver more than 26,000 new homes, with a significant focus on affordable living, directly tackling the country’s housing shortage. Alongside this, the partnership will create up to 10 million square feet of cutting-edge workspace and laboratory facilities, designed to empower the UK’s booming life sciences and tech industries sectors poised to drive the next wave of economic prosperity.

The redevelopment will target some of the UK’s most exciting regeneration hotspots, including Euston Station, Silvertown, Thamesmead Waterfront in London, and Smithfield in Birmingham. These vibrant new districts will seamlessly blend innovative workspaces with quality housing, transforming them into dynamic, future-ready communities that attract talent and investment alike.

This initiative is a key pillar of the government’s upcoming Modern Industrial Strategy, aiming to close critical infrastructure gaps that have held back growth. By enhancing lab capacity and fostering integrated developments, the partnership could unlock up to £4 billion in additional economic value and create 67,000 high-skilled jobs, positioning the UK as a global hub for innovation and advanced industries.

Chancellor Rachel Reeves praised the deal as a powerful example of how collaboration between public institutions and private enterprise can accelerate growth and improve lives. Enabled by the new powers granted under the Crown Estate Act 2025, this partnership not only promises to deliver tangible benefits but also sets a new standard for inclusive, sustainable development in the UK.

With a strong commitment to long-term social and economic impact, The Crown Estate and Lendlease are poised to reshape the future of UK cities building more than just homes and labs, but vibrant ecosystems where communities, innovation, and opportunity thrive together.