Latest news with #DanLabbad
Fashion United
20-05-2025
- Business
- Fashion United
The Crown Estate signs 'transformational' partnership with Lendlease
The Crown Estate, which manages property and land belonging to the British monarch, has formed a joint venture with Australian developer Lendlease on six major projects in the UK, including 60 acres above and around Euston Station in London. In a statement, The Crown Estate said its investment in the new 50/50 joint venture will support the development of science, innovation and technology space, unlocking housing in the UK, and commercial opportunities. The deal has the potential to deliver over 10 million square feet of commercial and residential space and features six development schemes across London and Birmingham. As well as the project at Euston Station, the portfolio includes 60 acres in Silvertown in London, with the potential to deliver circa 1.3 million square feet of commercial and 6,300 new homes; 40 acres in Smithfield in Birmingham, with over 2 million square feet of commercial space and 3,400 new homes; and three land plots in Stratford Cross, London, featuring more than 1.6 million square feet of commercial space. There is also 250 acres of residential space in Thamesmead Waterfront, London, with the potential to deliver over 11,000 homes and 880,000 square feet of commercial space, and 27 acres in High Road West in Haringey, London, with over 100,000 square feet of commercial space and around 2,800 new homes. Dan Labbad, chief executive of The Crown Estate, said: 'With strong support from local and national government, we look forward to working with Lendlease and others to realise the potential of these projects to create jobs, stimulate growth and positively impact lives, while also generating income for the UK. 'As a country, we face challenges to unlocking growth. To support this, we need to spark investment in sectors like science, technology, and housing, alongside deep collaboration across communities, government, and the private sector. This joint venture is an example of how The Crown Estate is harnessing its mandate to act in the UK's long-term national interest, supported by new investment powers, and stepping up its ambition to support inclusive growth for the nation.'
North Wales Chronicle
19-05-2025
- Business
- North Wales Chronicle
Crown Estate strikes deal to back London Euston redevelopment
The monarch's property company has agreed to take a 50% stake in the new joint venture, overseeing six development schemes in the capital and Birmingham. This includes a 60-acre transformation of the space above and around Euston station, creating cafes, shops, leisure facilities and some 2,000 apartments. We have signed a Joint Venture with@Lendlease to deliver 6 key developments in London and Birmingham. The investment will deliver much-needed science, tech and innovation space as well as creating jobs and building new homes🏠 Find out more: — The Crown Estate (@TheCrownEstate) May 19, 2025 Lendlease, which is working on a master plan for the development, has estimated it could cost 11.2 Australian dollars (£5.4 billion) and take until 2040 to complete. The project has been marred by delays and uncertainties around the accompanying plans for HS2, which is expected to reach Euston despite the work being suspended. The cost of building the high-speed railway between London and the West Midlands has been estimated to be around £80 billion. The Crown Estate's joint venture with Lendlease means it will have a stake in four other major London schemes – development of the Silvertown waterside neighbourhood in east London, three land plots in Stratford Cross, the 11,500-home Thamesmead Waterfront project, and the High Road West scheme near Tottenham Hotspur's stadium. The portfolio also includes the 3.7 billion Australian dollar (£1.8 billion) development of the Smithfield site in Birmingham, which aims to create more than 3,000 homes. The firms estimate that the projects have a combined value of up to £24 billion, and have the potential to create about 100,000 jobs and 26,000 homes. The Crown Estate is an independent company that belongs to the monarch for the duration of their reign, with a £16 billion portfolio of property that spans the country, including London's West End. Profits are partly used to fund the work of the monarchy. Chancellor of the Exchequer Rachel Reeves said: 'We are pulling every lever to grow our economy so we can put more money in people's pockets, boost home ownership and make Britain a global hub for life sciences through our plan for change.' Crown Estate chief executive Dan Labbad said: 'With strong support from local and national government, we look forward to working with Lendlease and others to realise the potential of these projects to create jobs, stimulate growth and positively impact lives, while also generating income for the UK.'
Western Telegraph
19-05-2025
- Business
- Western Telegraph
Crown Estate strikes deal to back London Euston redevelopment
The monarch's property company has agreed to take a 50% stake in the new joint venture, overseeing six development schemes in the capital and Birmingham. This includes a 60-acre transformation of the space above and around Euston station, creating cafes, shops, leisure facilities and some 2,000 apartments. We have signed a Joint Venture with@Lendlease to deliver 6 key developments in London and Birmingham. The investment will deliver much-needed science, tech and innovation space as well as creating jobs and building new homes🏠 Find out more: — The Crown Estate (@TheCrownEstate) May 19, 2025 Lendlease, which is working on a master plan for the development, has estimated it could cost 11.2 Australian dollars (£5.4 billion) and take until 2040 to complete. The project has been marred by delays and uncertainties around the accompanying plans for HS2, which is expected to reach Euston despite the work being suspended. The cost of building the high-speed railway between London and the West Midlands has been estimated to be around £80 billion. The Crown Estate's joint venture with Lendlease means it will have a stake in four other major London schemes – development of the Silvertown waterside neighbourhood in east London, three land plots in Stratford Cross, the 11,500-home Thamesmead Waterfront project, and the High Road West scheme near Tottenham Hotspur's stadium. The portfolio also includes the 3.7 billion Australian dollar (£1.8 billion) development of the Smithfield site in Birmingham, which aims to create more than 3,000 homes. The firms estimate that the projects have a combined value of up to £24 billion, and have the potential to create about 100,000 jobs and 26,000 homes. The Crown Estate is an independent company that belongs to the monarch for the duration of their reign, with a £16 billion portfolio of property that spans the country, including London's West End. Profits are partly used to fund the work of the monarchy. Chancellor of the Exchequer Rachel Reeves said: 'We are pulling every lever to grow our economy so we can put more money in people's pockets, boost home ownership and make Britain a global hub for life sciences through our plan for change.' Crown Estate chief executive Dan Labbad said: 'With strong support from local and national government, we look forward to working with Lendlease and others to realise the potential of these projects to create jobs, stimulate growth and positively impact lives, while also generating income for the UK.'
Rhyl Journal
19-05-2025
- Business
- Rhyl Journal
Crown Estate strikes deal to back London Euston redevelopment
The monarch's property company has agreed to take a 50% stake in the new joint venture, overseeing six development schemes in the capital and Birmingham. This includes a 60-acre transformation of the space above and around Euston station, creating cafes, shops, leisure facilities and some 2,000 apartments. We have signed a Joint Venture with@Lendlease to deliver 6 key developments in London and Birmingham. The investment will deliver much-needed science, tech and innovation space as well as creating jobs and building new homes🏠 Find out more: — The Crown Estate (@TheCrownEstate) May 19, 2025 Lendlease, which is working on a master plan for the development, has estimated it could cost 11.2 Australian dollars (£5.4 billion) and take until 2040 to complete. The project has been marred by delays and uncertainties around the accompanying plans for HS2, which is expected to reach Euston despite the work being suspended. The cost of building the high-speed railway between London and the West Midlands has been estimated to be around £80 billion. The Crown Estate's joint venture with Lendlease means it will have a stake in four other major London schemes – development of the Silvertown waterside neighbourhood in east London, three land plots in Stratford Cross, the 11,500-home Thamesmead Waterfront project, and the High Road West scheme near Tottenham Hotspur's stadium. The portfolio also includes the 3.7 billion Australian dollar (£1.8 billion) development of the Smithfield site in Birmingham, which aims to create more than 3,000 homes. The firms estimate that the projects have a combined value of up to £24 billion, and have the potential to create about 100,000 jobs and 26,000 homes. The Crown Estate is an independent company that belongs to the monarch for the duration of their reign, with a £16 billion portfolio of property that spans the country, including London's West End. Profits are partly used to fund the work of the monarchy. Chancellor of the Exchequer Rachel Reeves said: 'We are pulling every lever to grow our economy so we can put more money in people's pockets, boost home ownership and make Britain a global hub for life sciences through our plan for change.' Crown Estate chief executive Dan Labbad said: 'With strong support from local and national government, we look forward to working with Lendlease and others to realise the potential of these projects to create jobs, stimulate growth and positively impact lives, while also generating income for the UK.'
Powys County Times
19-05-2025
- Business
- Powys County Times
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. The monarch's property company has agreed to take a 50% stake in the new joint venture, overseeing six development schemes in the capital and Birmingham. This includes a 60-acre transformation of the space above and around Euston station, creating cafes, shops, leisure facilities and some 2,000 apartments. We have signed a Joint Venture with @Lendlease to deliver 6 key developments in London and Birmingham. The investment will deliver much-needed science, tech and innovation space as well as creating jobs and building new homes🏠 Find out more: — The Crown Estate (@TheCrownEstate) May 19, 2025 Lendlease, which is working on a master plan for the development, has estimated it could cost 11.2 Australian dollars (£5.4 billion) and take until 2040 to complete. The project has been marred by delays and uncertainties around the accompanying plans for HS2, which is expected to reach Euston despite the work being suspended. The cost of building the high-speed railway between London and the West Midlands has been estimated to be around £80 billion. The Crown Estate's joint venture with Lendlease means it will have a stake in four other major London schemes – development of the Silvertown waterside neighbourhood in east London, three land plots in Stratford Cross, the 11,500-home Thamesmead Waterfront project, and the High Road West scheme near Tottenham Hotspur's stadium. The portfolio also includes the 3.7 billion Australian dollar (£1.8 billion) development of the Smithfield site in Birmingham, which aims to create more than 3,000 homes. The firms estimate that the projects have a combined value of up to £24 billion, and have the potential to create about 100,000 jobs and 26,000 homes. The Crown Estate is an independent company that belongs to the monarch for the duration of their reign, with a £16 billion portfolio of property that spans the country, including London's West End. Profits are partly used to fund the work of the monarchy. Chancellor of the Exchequer Rachel Reeves said: 'We are pulling every lever to grow our economy so we can put more money in people's pockets, boost home ownership and make Britain a global hub for life sciences through our plan for change.' Crown Estate chief executive Dan Labbad said: 'With strong support from local and national government, we look forward to working with Lendlease and others to realise the potential of these projects to create jobs, stimulate growth and positively impact lives, while also generating income for the UK.'
