The £24 Billion Blueprint: Lendlease and The Crown Estate Launch UK’s Most Ambitious Urban Regeneration Drive

Lendlease and The Crown Estate Join Forces to Reshape UK Cities, Delivering 26,000 Homes, 10 million Sq Ft of Workspace, and a Vision for National Growth

In one of the most visionary real estate partnerships in UK history, Lendlease and The Crown Estate have signed a conditional joint venture agreement to deliver six transformational urban development projects across London and Birmingham. With a potential Gross Development Value (GDV) of £24 billion, this partnership isn’t just about bricks and mortar, it’s a blueprint for inclusive economic revival, housing acceleration, and innovation-led urban growth.

A New Era in British Urban Development

The portfolio, which spans over 450 acres, promises to deliver 10 million sq ft of commercial space, 26,000 homes, and more than 100,000 jobs, representing one of the most extensive real estate pipelines in Europe.

This strategic collaboration will reshape:

• Euston (London): 60 acres with 4.3M sq ft of workspace and 2,000 homes
  
• Silvertown (London): 60 acres with 6,300 homes and 1.3M sq ft of workspace
  
• Smithfield (Birmingham): 40 acres, 3,400 homes and 2M sq ft of workspace
  
• Stratford Cross (London): 3 plots with 1.6M sq ft of workspace
  
• Thamesmead Waterfront (London): 250 acres, 11,000 homes, 880K sq ft commercial
  
• High Road West (Haringey, London): 2,800 homes and 100K sq ft commercial
  

This game-changing collaboration is supported by The Crown Estate Act 2025, which for the first time enables the Estate to borrow and invest directly to unlock long-term public value.

Unlocking Cities, Empowering Communities

At the heart of this joint venture is a national vision: to reignite Britain’s economic engines through housing, science, and innovation infrastructure, while ensuring communities see tangible social and environmental returns.

Dan Labbad, CEO of The Crown Estate, emphasized:
“This partnership demonstrates how we can harness investment to spark jobs and opportunity while acting in the UK’s long-term national interest. With £1.5bn committed to supporting innovation and housing, we are unlocking the full potential of public-private collaboration.”

Tony Lombardo, CEO of Lendlease, added:
“We’re combining the strengths of two trusted organisations to deliver large-scale, sustainable regeneration projects. It’s about unlocking value for the country and its communities turning underutilised land into thriving, inclusive urban spaces.”

A Catalyst for the UK’s Growth Plan

The joint venture aligns directly with the UK government’s Plan for Change, an ambitious industrial and economic strategy to reestablish Britain as a global leader in science, housing, and life sciences.

Rachel Reeves, Chancellor of the Exchequer, remarked:
“We are pulling every lever to get Britain building again. This partnership shows how we can turn potential into progress with more homes, more jobs, and a growing innovation economy.”

Baroness Gustafsson CBE, Minister for Investment, echoed the sentiment:
“This is a landmark commitment to Britain’s real estate future and a powerful endorsement of the country’s investment climate.”

Why This Matters

This JV isn’t just an investment, it’s a declaration. It signals a radical pivot toward public-private alignment on some of the most urgent challenges of our time: housing shortages, economic inequality, and the need for innovative infrastructure.

With Lendlease’s legacy of large-scale urban regeneration and The Crown Estate’s long-term public value mission, this partnership may well become a template for modern nation-building not only revitalizing cityscapes but reimagining the very purpose of development in the UK.

From Blueprint to Impact

Over the next decade, this alliance will be watched closely not only for its £24bn scope but for its potential to set new standards in sustainability, social inclusion, and innovation-led real estate.

In a time when many countries struggle to reconcile growth with equity, this joint venture could well become the UK’s flagship model for urban regeneration done right delivering not just developments, but destinies.