The Crown Estate has struck a deal with Australian developer Lendlease to back major projects including redeveloping London’s Euston station.
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00:00The Crown Estate's deal with Lendlease is big news and it goes beyond just Euston Station.
00:08Lendlease is of course an Australian construction company working on a master plan for the development of the station.
00:17This includes a 60 acre transformation of the space above and around Euston Station.
00:25This redevelopment is estimated to cost around £5.4 billion with a completion date not before 2040.
00:34Of course the project has been marred by delays and uncertainties around the accompanying plans for HS2
00:42which is still expected to reach Euston despite the work being suspended.
00:48The Crown Estate which is the Monarch's property company and which has agreed to take a 50% stake in this project
00:58will also have a stake in four other major London schemes.
01:03These are the development of the Silvertown Waterside neighbourhood in East London,
01:09three land plots in Stratford Cross, the 11,500 home Thamesmead Waterfront for Waterfront project
01:17and the High Road West scheme near Tottenham Hotspurs Stadium.
01:24The Crown Estate is an independent company that belongs to the Monarch for the duration of their reign.
01:34With a £16 billion portfolio of property that spans the country including much of London's West End.