Conservation & Heritage Issue 49 October 2025 - Flipbook - Page 28
The partnership comes at a time when the UK is facing
numerous challenges around housing and the need to
provide quality commercial space for science, innovation
and technology businesses.
Since 2019, the country has seen a shortfall of around
300,000 homes and more than 8.5 million people unable
to access the housing that they need.
The UK is also a leading tech ecosystem – the largest
in Europe and third largest worldwide. With growth
particularly in Artificial Intelligence, Climate Tech and
Cleantech, there is a need to deliver bespoke, quality
space for the growing science, innovation and technology
companies across the country, including startups. The
joint venture forms part of The Crown Estate’s ambition
to invest up to £1.5 billion to support the sectors over the
next 15 years, announced last year.
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
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the UK’s long-term national interest, supported by new
investment powers, and stepping up its ambition to support
inclusive growth for the nation.”
Tony Lombardo, Group CEO of Lendlease, said: “Our
partnership with The Crown Estate will create an industry
leading alliance that is expected to unlock value within our
high-quality UK development portfolio, while accelerating
the release of capital for the Group.
“With our expertise in delivering city shaping urban
regeneration projects, the joint venture aims to deliver
positive outcomes for our securityholders, communities
and partners.”
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.
“This includes creating the right environment for
organisations like The Crown Estate and Lendlease to
partner, helping us to unlock capital to get Britain building
and get Britain growing.”
Minister for Investment Baroness Gustafsson CBE
said: “This is yet another strong endorsement of the UK’s
investment environment and our thriving real estate sector
as this government has committed to get Britain building
again, a crucial part of delivering our Plan for Change.
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