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.'

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Wales Online

an hour ago

• Wales Online

Energy costs to be cut for businesses in Wales in new industrial strategy

Energy costs to be cut for businesses in Wales in new industrial strategy The electric arc steel furnace being built at Port Talbot steelworks is one of the businesses that will be benefit The steelworks in Port Talbot, where a new electric arc furnace is to be installed (Image: Getty Images ) The UK Government says that the planned electric arc furnace at Port Talbot steelworks will be boosted by plans to slash electricity costs for the industry by 25%. A new industrial strategy published by the UK Government is promising to cut energy costs for some 7,000 businesses across the UK to help companies in the face of energy costs that are among the highest in Europe. ‌ The new Tata furnace at Port Talbot, which comes into operation in three years time in 2028, will be among those to benefit according to business secretary Jonathan Reynolds. ‌ The new 'British industrial competitiveness scheme' will reduce electricity costs by up to £40 per megawatt hour for over 7,000 electricity-intensive businesses in manufacturing sectors like automotive, aerospace and chemicals. Firms which support over 300,000 skilled jobs across the UK will be exempt from paying levies such as the renewables obligation, feed-in tariffs and the capacity market in a move to help "level the playing field and make them more internationally competitive". The strategy, published today, promises increased economic growth, billions in investment and tens of thousands of new jobs supported over the next decade for Wales. Article continues below It saysiits measures will "forge a new relationship between business and government, making Wales and the UK the best place to start and scale up a business". It promises to "unlock growth across Wales", by utilising the country's strengths in aerospace in north Wales to the world's first compound semiconductor cluster in South Wales. It says that more than 7,000 UK businesses are set to see their electricity bills slashed by up to 25% in "a decisive shift" to support industry and unlock the UK's economic potential. ‌ The UK Government also plans to increase support for the most energy-intensive firms, like steel, chemicals, and glass, by covering more of the electricity network charges they normally have to pay through the British industry supercharger. These businesses currently get a 60% discount on those charges, but from 2026, that will increase to 90%. Key measures for Wales The following eight measures have been identified as key for Wales. More than £4 billion for the advanced manufacturing sector in the UK over the next five years. UK Government to establish a centre for doctoral training in semiconductors, led by Swansea University. A defence growth deal cluster to build on Wales's major strengths. A new British business bank champion for the Cardiff Capital Region to connect investors with businesses and kickstart growth. £30m for a local innovation partnerships fund in Wales to work with the Welsh Government and Innovate UK to grow innovation. The National Wealth Fund working with the Development Bank of Wales to identify and secure financing for investment projects in Wales. Support for the UK's city regions and clusters by increasing the supply of investible sites through a new £600m strategic sites accelerator, enhanced regional support from the office for investment, national wealth fund, and British business bank. Strengthened support from the office for investment to help identify, shape and deliver strategic investment opportunities across the UK. ‌ Ten year plan The industrial strategy is a 10-year plan to promote business investment and growth, with the aim of making it "quicker, easier and cheaper to do business in the UK, and to give businesses the confidence to invest and create good, well-paid jobs in thriving industries". The UK Government's plans says it addresses the main barriers to growth, making it "easier and quicker" to do business and invest in Wales. The published plan of action is as follows: ‌ Slashing electricity costs by 20-25% to level the playing field for industries like chemicals and key growth sectors like automotive. Unlocking billions in finance for innovative business by increasing British business bank capacity to £25.6 billion. Reducing regulatory burdens by cutting the administrative costs of regulation for business by 25% and reduce the number of regulators. Boosting R&D spending to £22.6 billion per year by 2029-30 to drive innovation across the IS-8, with more than £2 billion for AI over the spending review, and £2.8 billion for advanced manufacturing over the next ten years, in a bid to leverage billions more from private investors. Attracting elite global talent to key sectors, via visa and migrations reforms and a new the 'global talent taskforce'. Revolutionising public procurement and reducing barriers for new entrants and SMEs to bolster domestic competitiveness. What's been said... Prime minister Keir Starmer said: 'This industrial strategy marks a turning point for Britain's economy and a clear break from the short-termism and sticking plasters of the past. 'In an era of global economic instability, it delivers the long term certainty and direction British businesses need to invest, innovate and create good jobs that put more money in people's pockets as part of the plan for change. ‌ 'This is how we power Britain's future - by backing the sectors where we lead, removing the barriers that hold us back, and setting out a clear path to build a stronger economy that works for working people. Our message is clear - Britain is back and open for business.' Secretary of State for Wales Jo Stevens said: 'Wales has huge potential and our government's industrial strategy will harness the strengths of our businesses and workforce to drive growth and create jobs. 'The strategy will support key sectors like aerospace and compound semiconductors while developing industries of the future like floating offshore wind where Wales is well-placed to be a world leader. Our modern Industrial Strategy is built to last and make Wales one of the best places to invest and do business. Working alongside Welsh Government we will boost growth, raise wages and create wealth across our country.' ‌ UK Government business and trade secretary Jonathan Reynolds said: 'We've said from day one Britain is back in business under this government, and the £100 billion of investment we've secured in the past year shows our Plan for Change is already delivering for working people. 'Our modern industrial strategy will ensure the UK is the best country to invest and do business, delivering economic growth that puts more money in people's pockets and pays for our NHS, schools and military. 'Not only does this strategy prioritise investment to attract billions for new business sites, cutting-edge research, and better transport links, it will also make our industrial energy prices globally competitive. ‌ 'Tackling energy costs and fixing skills has been the single biggest ask of us from businesses and the greatest challenge they've faced – this government has listened, and now we're taking the bold action needed. Government and business working hand in hand to make working people better of is what this government promised and what we will deliver.' Chairwoman of Fintech Wales, Sarah Williams-Gardener, said: 'We are delighted to see financial services recognised as a key sector in this industrial strategy. We look forward to working closely with the government to help unlock the sector's full potential. 'The emphasis on AI and the compute power required to support its development is particularly welcome, as we begin to see generative AI driving innovation across financial services—empowering both providers and customers through the next generation of digital banking platforms.' ‌ Founding partner of Gambit Corporate Finance and chairman of the Cardiff capital region investment board, Frank Holmes, said: 'Today's announcements mark a timely and important shift towards a connected, strategic approach to economic growth. The renewed focus on industrial strategy and SME finance speaks directly to the opportunities we are unlocking in the Cardiff capital region. We have backed innovative and scalable businesses like Whisper TV, showcasing how tailored regional finance can drive job creation, innovation and global reach. 'The UK's commitment to extending SME access to finance aligns perfectly with the ecosystem we are building in CCR as a proven delivery partner and a model for regional economic development.' And Louise Harris, CEO of Tramshed Tech in Cardiff, added: "The launch of the UK government's industrial strategy is a pivotal moment for our tech and innovation ecosystem. By aligning local strengths with national ambition, this strategy provides a powerful platform for Welsh businesses to grow, attract investment and lead in emerging sectors such as technology, advanced manufacturing, and creative industries. Article continues below 'This strategy recognises that innovation isn't just about technology in isolation – it's about creating sustainable, high-quality jobs while tackling real-world challenges. This approach will create the perfect environment for start-ups and scale-ups to thrive, knowing they have both the infrastructure, skills and strategic support to take their innovations from Wales to the world."

Daily Mirror

2 hours ago

• Daily Mirror

Transfer updates as Arsenal face Sesko U-turn while Liverpool agree deal

We're a week into the second transfer window of the summer and already the British transfer record has been broken. Liverpool have signed Florian Wirtz from Bayer Leverkusen in a deal which could end up costing them £116m. And the Reds' business is not over. Arne Slot's side have reached an agreement for a £40m deal to sign Bournemouth's Milos Kerkez, who is set for a medical this week. And the Reds are also keen on Crystal Palace star Marc Guehi, but they have Arsenal for company. While Jarell Quansah could depart the club. The Gunners are pushing for Benjamin Sesko as they eye a new frontman, but the RB Leipzig star's demands could still scupper the deal. Perhaps a move for Viktor Gyokeres is not yet off the table however. Confirmation of Martin Zubimendi's transfer may not happen until next month. Manchester United are also in the market for a forward having already added Matheus Cunha. But exits will equally be on Ruben Amorim's mind. United have yet to part ways with Marcus Rashford, Jadon Sancho, Antony or Alejandro Garnacho. And the club may need the financial boost with significant prices quoted for the likes of Gyokeres and Bryan Mbeumo. Liverpool and Bayer Leverkusen have to an agreement over their third deal of the summer with Jarell Quansah set to exit Anfield. Reports claim a £35m deal has been agreed with the Reds including a buy-back clause in the transfer. Quansah is set to commit to a five-year contract. Jadon Sancho has yet to find an exit from Manchester United but is said to be willing to move to Italy. One route out of the club may be dependent on another deal failing first however. Repoorts in Italy suggest that a move from Juventus for 25-year-old depends on whether they sign Francisco Conceicao from Porto. It's not all going smoothly for Arsenal as they attempt to finally sign a new forward. Arsenal are said to be growing frustrated with Benjamin Sesko's wage demands as they look to wrap up a deal for a new striker this summer. And while the club are ready to pay £70m for the RB Leipzig star, talks with Sesko's camp over his wages are not going smoothly. Thanks for joining us for another day of transfer news. We're a week into the second window and there's plenty more still to happen before the Premier League restarts.

The Herald Scotland

2 hours ago

• The Herald Scotland

Our industrial decline gives a lie to Better together claims

The collateral damage has been massive with whole communities, dependent on these jobs, being virtually abandoned. The subsequent social damage is all too obvious with the skilled jobs that sustained previous generations being replaced by a gig economy characterised by short-term, poorly-paid and often unskilled work. The consequences are there in plain sight – growing levels of poverty, lengthening queues at food banks and the scandal of children going to school poorly clothed and hungry. Of course, a healthy economy depends to a certain extent on inward investment but over the last decades the ownership of a whole host of British companies has moved overseas. Scotland has been hit particularly hard with the loss of control over our once-famous banking and finance sectors. Scottish Power and SSE are largely owned by Iberdola and a Qatari investment company. While foreign capital investment must be welcomed, it brings with it the constant threat of closures and asset-stripping. Regrettably however, it is not just our industrial and financial sectors that have been taken over but vast sections of our utilities and public services as well. In a famous speech in 1964, Harold Wilson slammed the Tories for glorying in a country "where the rewards go to land racketeers and property spivs". It was Neil Kinnock who described the then Conservative government's privatisation policies as "selling off the family silver". However successive governments both Tory and Labour have overseen vast swathes of our public services falling into private hands. So, for example, there are now 27 separate rail companies operating in England and Wales and 10 water companies. The long-suffering public have experienced worsening standards of service and ever-mounting costs while huge bonuses and dividends are being paid out to bosses and shareholders. What makes the situation even worse is that the Government pays out vast sums in subsidies to these failing companies. When you consider that in England large sections of welfare, care, probation, prisons, schools and even the NHS are now in private hands then it is no wonder that our national debt continues to soar while public complaints about failing standards rocket. Is this really the future promised by the Better Together campaign? Eric Melvin, Edinburgh. Read more letters Indy would mean 'normal' politics John NE Rankin (Letters, June 20) is obviously a stickler for accuracy. He castigates attributing the "ongoing ferry shambles" to Calmac rather than Caledonian Marine Assets Ltd and, ultimately in Mr Rankin's opinion, the SNP Government. He cannot then resist taking a swipe at supporters of this government, which he says "could not run a country". Whether or not the SNP could successfully run an independent Scotland is a matter of opinion. What is a matter of fact, however, is that Mr Rankin's opinion of the SNP would be tested by the Scottish electorate in all subsequent elections post-independence. The SNP would stand or fall on its record of government alone. In other words, we would have "normal" politics where voting would be dominated by the same concerns as every other Western European democracy. And, oh yes, the Scottish electorate would not have its near neighbour's choice imposed on it by sheer weight of numbers. David S McCartney, Forres. Make Scotland a beacon for peace Watching the latest developments in the Middle East war from Scotland can make you feel depressed and powerless. Yet Scotland is involved, and should be taking a strong stance against the war. Firstly Scotland is acting as a staging post for the US bombing missions in Iran and their assistance to Israel's war. Prestwick Airport, which is owned by the Scottish Government, has seen large numbers of US war plans landing and being refuelled on their way to wage war on Iran and to assist the Israeli war effort. It's time the Scottish Government closed this route for war by banning US warplanes at Prestwick. Secondly if this war in the Middle East extends to a global war Scotland's nuclear base at Faslane will be the number one target for attack and if it's hit then much of Glasgow will disappear surely it's time that this expensive and ineffective nuclear base was closed. Thirdly Scottish arms industries are supplying the Israeli war machines with vital spare parts and it's time this was ended. Of course I realise that none of this can be achieved while Scotland is part of the UK and where Keir Starmer's Labour Government is guilty of failing to condemn Israel for genocide in Gaza or the US for its warlike interventions' instead they are grovelling to Donal Trump in the hope of crumbs from his table. Support for Scottish independence has reached a new high of 56% recently. Now let's turn that into a pro-independence majority in the Scottish elections next year. If that happens the Scottish Parliament should declare our independence and end our complicity in war and instead make Scotland a beacon for peace in the world. Hugh Kerr, Edinburgh. • I'm an idiot. I admit it. I believed Donald Trump when he said before his election that there would be no more of America's endless wars far from America's shores. Instead he has thrown in his lot with America's triad of evil – the military industrial complex, the Neocons, and the powerful Israeli lobby. Benjamin Netanyahu, facing three charges of corruption at home, has achieved his long-held ambition of bringing the United States into a war with Iran. Trump promised to end the war in Ukraine. He hasn't. He promised to bring peace to the Middle East. He hasn't. Instead he has continued with his country's history of bombing countries and killing thousands. Hiroshima. Nagasaki. Vietnam. Cambodia. Laos. Iraq. Somalia. Libya. Syria. Yemen. Iran. Plus ça change, plus c'est la même chose. William Loneskie, Lauder. Donald Trump (Image: PA)Give us back our licence fee BBC Scotland boasts that Scotland gets 90% of its licence fee for funding. Given the heavy Anglo-centric bias of the BBC platforms funded by the UK-wide licence fee (BBC News 24, Radios 4 and 5 etc), why don't we have 100% of our licence fee back, and use it in Scotland to make programmes relevant to us, our history and culture? Scots traversed Europe for 500 years, then the globe for the next 300, so it need not be parochial. There is also income from BBC Commercial, which brings in a couple of billion pounds a year. Why does Scotland not share in that? GR Weir, Ochiltree. Politicising the bus pass The US Government's cackhanded launch of a 'Trump card' golden visa scheme, its promotional card bearing the visage and signature of that country's current elected head of state, conflates state functions with the personal identity of an incumbent officeholder. That sort of nonsense befits authoritarian tyrannies not democracies Sadly but somehow not surprisingly, the shambles echoes the sorry state of Scotland's bus passes. Rather than simply calling them bus passes, as happened for decades, the separatist regional government emblazons them with the crux decussata. They carry the irrelevant legend 'Saltire cards' (not even their formal name), predictably stylised without a space. English bus passes are at least more suitably named to reflect their purpose. They do bear a St George's Cross though: Scottish separatists' divisive identity politics have spread poison down south, alas. Ought one, though, to call Scotland's bus passes merely 'bus passes'? The scheme's website describes what is properly known as the national entitlement card as 'Scotland's National Smartcard', again grammatically wrong as well as ideologically questionable. In principle, enabling some local government services to be offered digitally could be a helpful move. But an overtly politicised design combined with the Orwellian whiff of identity cards introduced by the back door bear the grubby fingerprints of nationalist authoritarianism. Witness their unthinking use on buses even by primary school pupils. Christopher Ruane, Lanark.