HS2 has confirmed its selection of Lendlease as its master development partner for the £4bn regeneration of Euston, NW1.
As revealed by EG, the Australia-listed group behind the redevelopment of the International Quarter in Stratford will lead the planning and development of the 133-acre station site to create a commercial and residential district.
HS2 said the deal could unlock up to 1,700 new homes and 19,000 jobs around the wider station site. Camden, the local authority that will rule on development plans, has previously identified in its Euston Area Plan the opportunity to create up to 3,800 new homes and 3m sq ft of commercial space at the site.
Lendlease will be appointed as master development partner by Chris Grayling, the Secretary of State for Transport, and Network Rail. They will then work with the Greater London Authority and Camden to develop a masterplan for the site.
The arrival of HS2, expected in 2026, will more than double the number of seats out of Euston during peak hours, providing extra capacity alongside an opportunity to improve accessibility and open up the station to the surrounding communities, creating new access routes, public and green spaces across the wider station site.
London’s first inter-city station
Opened in 1837, Euston was London’s first inter-city train station. It was completely rebuilt in the early 1960s and now caters for around 42m passengers a year – more than double the design capacity of the current station.
By taking a coordinated approach with Network Rail, which owns and runs the existing station, pooling publicly owned land across the site, and appointing an MDP, HS2 will create a unified approach to long-term development that could unlock up to 4.8m sq ft of development space, including new retail, hotels and other leisure opportunities. The masterplan will be in line with Camden’s Local Area Plan.
HS2 chief executive Mark Thurston said: “The arrival of HS2 gives us a unique opportunity to transform the wider Euston station site, opening up the station to the surrounding community with new streets and public realm as well as opportunities to unlock thousands of new jobs and homes, anchored around a common masterplan vision.
“It was great to see such a strong competition and I’m pleased to welcome Lendlease to the team. Its experience delivering some of the world’s most challenging transport and development projects will be vital as we move forward with this exciting new phase in the story of Euston station.”
Transforming Euston
David Biggs, managing director, Network Rail Property, said: “Like our award-winning work at nearby King’s Cross, which attracted £2.2bn of private investment including new offices, jobs and homes, we will work to transform Euston station to meet modern needs and act as a catalyst for wider regeneration. With this transformation and the arrival of HS2, Euston station quarter will become a new thriving London destination that meets the needs of passengers and local communities.”
Dan Labbad, chief executive officer, international operations, Lendlease, said: “We believe this is a fantastic project in a key area of London that will provide opportunity for all and act as a catalyst for wider UK growth.”
Jules Pipe, London’s deputy mayor for planning, regeneration and skills, said: “Euston has the potential to be much more than just a transport hub, and we look forward to working with Lendlease to make it into a real public space, which benefits local people, drives business growth, and unlocks much-needed affordable housing.”
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