£24 billion investment to help transform Euston and boost UK housing and science sectors

A landmark new partnership is set to bring major investment to Euston and beyond – creating new homes, jobs, and innovation hubs across the UK.

The Crown Estate and international developer Lendlease have joined forces in a £24 billion agreement that will help deliver much-needed housing and world-class science and technology spaces – including right here in Euston.

This partnership is part of a wider national push to grow the economy, create jobs, and invest in the future. Locally, it strengthens plans already underway to regenerate the Euston area into a vibrant neighbourhood of homes, labs, workspaces and green public areas.

What it means for Euston:

Thousands of new homes

Brand new lab and office spaces, supporting the UK’s growing life sciences and tech sectors.

Jobs and opportunities for local people, as part of a wider aim to create 100,000 jobs across the country.

Continued transformation around Euston Station, already a focus area for regeneration and investment.

The partnership will help unlock development opportunities at key sites – including Euston, Silvertown, and Thamesmead in London, as well as sites in Birmingham. In total, it could deliver over 26,000 new homes and around 10 million square feet of space for innovation and enterprise.

The announcement comes with strong support from the government and follows new powers granted to The Crown Estate earlier this year to help drive investment and growth.

Rachel Reeves MP, the Chancellor of the Exchequer, said the plan is part of the Government’s Plan for Change, which aims to “put more money in people’s pockets, boost home ownership and make Britain a global hub for life sciences.”

Baroness Gustafsson of Chesterton CBE, Minister for Investment, said:

“This is a strong vote of confidence in the UK’s future – and a big boost for jobs, housing and science in places like Euston.”

Dan Labbad, CEO of The Crown Estate, added:

“We’re proud to work with partners like Lendlease to turn bold ambitions into reality – creating great places to live and work, and delivering long-term value for communities and the country.”

As Euston prepares for a major transformation over the coming years, this partnership marks an important step forward in playing a part in that redevelopment.