Lendlease and the Crown Estate have officially launched a joint venture with a gross development value of up to 24 billion pounds, or roughly 46 billion Australian dollars, aimed at unlocking a string of major UK development sites.
The partnership, split 50-50 between the two organisations, formally commenced on July 1 after first being announced in May 2025. It is expected to deliver up to 30,000 new homes alongside 900,000 square metres of sustainable office and life sciences space.
Marquee sites transferred first
Three projects have been transferred into the venture to start: Euston Station, the 60 acre Silvertown development, and Stratford Cross, with Thamesmead and a Birmingham site expected to follow. Affordable housing work at Silvertown is due to begin within months, while the planning application for Euston Station is scheduled for the 2027 financial year.
