Australian developer Lendlease and Bovis, the construction company it sold earlier this year, are both relocating their UK headquarters from east London to 1 Eversholt Street this autumn, in a move that will place the government’s master development partner and contractor respectively for the regeneration of London's Euston station hub at the heart of the proposed 60-acre scheme.
Lendlease said the strategic location of the circa 11,400 square foot offices it would occupy reflects an increasing demand for high-quality and well-connected spaces, with the team joining other project partners already based in the area, such as The Euston Partnership and new partners joining, such as Bovis. Construction giant Bovis has declined to comment on how much space it will occupy at the 1 Eversholt Street block, which is owned by Network Rail and fronts Euston station.
Both businesses are relocating from east London's 5 Westfield Avenue in Stratford, part of the major office and residential development Lendlease has developed at and around the former Athletes Village side for the 2012 London Olympics.
The announcement follows the recent appointment of architecture practice Allies & Morrison as master planners for the regeneration of the Euston development site, which will propose homes, commercial, life sciences and community spaces.
Andrea Ruckstuhl, Lendlease group executive, international, said in a statement supplied to CoStar News: “Euston is the last site in central London with the potential to deliver regeneration at this scale. And securing our new headquarters in Euston is a sign of our ambition to drive forward this once in a generation opportunity. It will allow us to shape the masterplan for an amazing project from within Euston itself; working with our partners to create a new destination that benefits local communities and businesses and supports London’s growth.”
Lendlease, the Australian construction and development group, entered into a binding agreement to sell its UK construction business to Atlas Holdings in January.
The transaction was announced on the Australian Stock Exchange and came after Lendlease said in May 2024 it planned to retrench from development in the UK, Europe and the US and sell its overseas construction businesses.
In March, Atlas announced it would be returning the business to its historic and famous name - Bovis - after that name disappeared in 2011, a dozen years after Lendlease had bought the business from P&O.
In May, the Crown Estate, the reigning UK monarch's property company, and Lendlease entered into a conditional agreement to create a joint venture partnership focused on Lendlease’s up-to-£24 billion undeveloped UK land management portfolio. A key development is Euston, with Lendlease remaining as development manager.