The Department is working with key partners to develop affordable, integrated plans for the Euston Station Campus, which include the development of a spatial plan and a delivery schedule. In April, the Department established the new Euston Delivery Company (EDC) as the single directing mind for the Euston programme. The EDC is in the process of refining the spatial plan and delivery schedule, which have been developed in collaboration with Euston partners. This will form the basis for further development through the next stages of design. Further details will be provided in due course.

No other alternatives to reduce the cost of the connection between Old Oak Common and Euston were identified at the time of the Government's decision to proceed with the Euston tunnel. The existing tunnelling plans are the most cost-effective approach, as Old Oak Common station's construction has been set up for this purpose.

If this decision had not been made at this time, there would have been likely cost and schedule impacts to the delivery of Old Oak Common station, and potentially to the wider HS2 programme.

The Euston Development Masterplan is a joint Department for Transport and Network Rail project, with delivery contracted to a joint venture between Lendlease and The Crown Estate.

Public funding, administered by the Department for Transport, will support enabling works and contribute towards the costs of developing the masterplan. The majority of the project will be funded by the private sector, with the Department for Transport and Network Rail sharing in the value generated from development.

The Government announced in May 2026, the expected cost of delivering HS2 is now in the range of £87.7 - 102.7 billion. This is expressed in a mixed price base, including the cash outturn of works to date and the costs of future work excluding inflation.

This is an initial assessment that will mature further as the work is refined into a full programme baseline. Drawing on lessons learned from previous experience, the Department is taking the time to complete the necessary work to establish a robust baseline before seeking to set budgets for Euston.

I refer the Rt Hon Member to the Answer of 16 July 2026 to Written question 16520.

We are working with our Master Development Partner Lendlease on a Masterplan and outline planning application to deliver high-quality mixed-use development around the new HS2 Station and renewed Network Rail station. Lendlease is aiming to submit a planning application in 2027.

We are working at pace with our Master Development Partner, Lendlease, on a Masterplan for Euston, with an emphasis on growth and delivering much needed housing. The number of homes and affordable homes is subject to the development of the Masterplan.

We are working at pace with our Master Development Partner, Lendlease, on a Masterplan for Euston, with an emphasis on growth and delivering much needed housing. The number of homes and affordable homes is subject to the development of the Masterplan.

Almost 50 organisations responded to the Department’s market engagement questionnaire, including contractors, equity investors, lenders and other interested parties. The Department held a series of one-to-one and roundtable discussions with delivery capable organisations as part of the market engagement exercise.

This engagement demonstrated strong market interest in the Department’s private finance proposals. However, given the commercially sensitive nature of the information, the Department is unable to disclose how many respondents indicated that they may wish to participate in any future procurement.

Lendlease was appointed as the Master Development Partner (MDP) in 2018 to lead the regeneration of the Euston Campus. We are working with them on a Masterplan and outline planning application to deliver a high-quality mixed-use development around the new HS2 Station and renewed Network Rail station. The intent is to create significant economic and social benefits for the local, regional and national economy, and to maximise financial returns from the development of the Euston Campus. We will make further announcements in due course.

The initial preliminary market engagement regarding private finance for the Euston HS2 Station has taken place between 4 February and 31 March 2026, in line with published notices. Over 60 organisations signed Non-Disclosure Agreements and received a briefing document, with almost 50 organisations providing written responses to our questionnaire. The Department for Transport then held follow-up meetings with a range of respondents including construction contractors, operations & maintenance suppliers, investors and finance providers. The Department currently anticipates conducting further preliminary market engagement regarding this opportunity in future.

In line with the Government’s 10 Year Infrastructure Strategy, the Department will assess whether the proposed public-private partnership for HS2 Euston station is commercially viable, while offering risk transfer and capable of delivering value for money for taxpayers.

The option to use a public-private partnership to deliver the HS2 station will be subject to value for money and achieving risk transfer. Details of private finance estimates associated with the PPP for the HS2 Station are commercially sensitive and will depend on commercial negotiations, market conditions and the scale of development.

The Department’s focus over the next two years is to ensure it is well-placed to run a successful competitive procurement for HS2 Euston Station. The Department is using a well-understood public-private partnership model widely applied internationally, and our early market engagement indicates there is potential interest from global contractors, infrastructure investors and finance providers.

We will be advancing the design, working with delivery partners to develop the scheme’s technical requirements, and further market-testing the plans before procurement in order to identify and address any concerns. In any scenario, we will be able to benefit from this technical work and the discipline it brings, including if we choose to revert to a different commercial procurement model (e.g. public procurement).

Drawing on lessons learned from previous experience, the Department is taking the time to complete the necessary work to establish a robust baseline before seeking to set budgets for Euston.

Our private finance and funding package for Euston includes options to use a public-private partnership (PPP) to deliver the HS2 station, a Tax Increment Financing mechanism for local infrastructure upgrades, and development proceeds from government land holdings. The precise amounts that can be raised from these sources will depend on commercial negotiations, market appetite and development quantum.

The Department is exploring a public-private partnership (PPP) to support delivery of the HS2 Euston station. It is important that this work is completed thoroughly to support a robust commercial proposition.

We expect the timetable to be consistent with procurement timeframes, typical for this type of PPP model. Our focus over the next two years is to ensure that we are well-placed to run a successful competitive procurement.

It is essential that plans are market-tested before launching the procurement, allowing us to identify and address any concerns. To this end, the Department has conducted a preliminary market engagement earlier this year to raise awareness, and to gather feedback from potential investors and delivery partners, which has shown healthy levels of interest in our proposals.

A PPP will be subject to value for money and sufficient risk transfer. If private finance cannot be secured on acceptable terms, the Department will consider alternative delivery and funding options in discussion with HMT. In any scenario, we will be able to benefit from the preliminary technical work and the discipline it brings, including if we choose to revert to a different commercial procurement model (e.g. public procurement).