A landmark £24 billion regeneration partnership between Lendlease and The Crown Estate is set to transform major urban locations across London and Birmingham, creating tens of thousands of new homes alongside world-class commercial, science and innovation space.
The newly established Impact Partnership Joint Venture represents one of the UK’s largest long-term regeneration programmes and will initially focus on three flagship developments at Euston, Silvertown and Stratford Cross in London. Together, these schemes are expected to deliver around 9,000 new homes and more than 7 million sq ft of commercial, research and innovation space, supporting economic growth while helping address housing demand.
For the construction sector, the announcement signals a significant pipeline of work spanning residential development, commercial construction, infrastructure, public realm, building services and sustainable placemaking over the coming decade.
The construction programme is already moving forward. Work is scheduled to begin in September on 326 affordable homes at the 60-acre Silvertown regeneration scheme in East London, marking the first major delivery phase of the partnership. Meanwhile, plans continue to progress at Euston, where a planning application for the comprehensive redevelopment is expected to be submitted in spring 2027.
The partnership has also confirmed that a second phase of expansion will see two further landmark regeneration projects join the joint venture later this summer. Birmingham Smithfield and Thamesmead Waterfront will increase the overall programme to approximately 27,500 new homes and almost 10 million sq ft of commercial floorspace, significantly extending the partnership’s development pipeline.
Infrastructure works at Birmingham Smithfield are expected to commence later this year, with temporary market facilities due to open early next year before construction of the first residential buildings begins in 2027. The regeneration will transform one of Birmingham’s most strategically important city centre sites into a vibrant mixed-use destination combining homes, workplaces, retail, leisure and public spaces.
The projects reflect the growing emphasis on large-scale mixed-use regeneration, where residential neighbourhoods are integrated with commercial, science and innovation districts to create sustainable, connected communities. Significant investment in transport infrastructure, public realm, green spaces and social infrastructure will also form an integral part of the long-term vision.
By combining the development expertise of Lendlease with The Crown Estate’s long-term investment strategy, the Impact Partnership Joint Venture is expected to accelerate the delivery of complex regeneration projects while attracting further institutional investment into the UK’s property and construction sectors.
As construction activity gathers pace across multiple sites, the partnership is set to generate extensive opportunities throughout the construction supply chain, supporting contractors, consultants, manufacturers and specialist trades while delivering new homes, commercial space and employment opportunities that will help shape the future of several of the UK’s most important urban regeneration locations.
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