LONDON (Reuters) -Britain’s Crown Estate, which manages King Charles’ public property, signed a partnership deal with Australian real estate group Lendlease to build new homes and develop science and innovation hubs in the UK, the government said on Monday.
Under the joint venture deal, The Crown Estate, which has a 16 billion pound ($21 billion) property portfolio, can invest in Lendlease’s undeveloped UK portfolio, with the potential to create 26,000 new homes and 10 million square feet of workspace and labs, a statement said.
The government said the partnership’s gross development value is 24 billion pounds ($32.12 billion).
($1 = 0.7471 pounds)
(Reporting by Sarah Young, writing by Sam Tabahriti)
