Rishi Sunak has scaled back an upgrade of Euston station, but says he wants Lendlease’s associated urban regeneration project to be much bigger.
| British Prime Minister Rishi Sunak has lifted a cloud of uncertainty shrouding one of Lendlease’s biggest urban projects, the £4 billion redevelopment of the area around central London’s Euston station.on a major part of the costly and over-budget, high-speed rail project, HS2, it would ensure the London-Birmingham bullet train makes it all the way to Euston.an alternative cost-saving plan
And it will hand the station upgrade to fresh management, giving Lendlease a new partner to work with. “The management of HS2 will no longer be responsible for the Euston site. There must be some accountability for the mistakes made, for the mismanagement of this project,” Mr Sunak said.“We will instead create a new Euston development zone, building thousands of new homes for the next generation of homeowners, new business opportunities, and a station that delivers the capacity we need.
“We will also take on the lessons of success stories such as Battersea Power Station and Nine Elms, which secured £9 billion of private sector investment and thousands of homes.”Lendlease would not be drawn on whether and how it will have to change course as a result of the government’s aspirations. Officials had worried that a smaller station might compromise the ability to extract maximum use and value from the land above and around the site. But the government seems to have come to the opposite conclusion.“We are going to strip back the project and deliver a station that works, and that can be open and running trains as soon as possible, and which has the leadership in place to deliver maximum value to the taxpayer,” the policy document said.
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