Crown Estate strikes deal to back London Euston redevelopment

The Crown Estate has struck a deal with Australian developer Lendlease to back major projects including redeveloping London’s Euston station.

Transcript

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.