for the benefit of societyCreating great places

3LCR PROPERTY

For the past 25 years, LCR has been at the heart of some of the UK’s biggest regeneration projects.

From King’s Cross to Stratford City, LCR’s track record of world-class regeneration projects speaks for itself. Our creativity and imagination have transformed a broad portfolio of transport-linked sites and public sector assets into exciting new destinations in which people can live, work and enjoy.

We’ve delivered major infrastructure, such as the award-winning High Speed 1 (HS1) railway, created exemplar destination train stations like St Pancras, and tackled sites with challenges that had placed them out of reach for traditional developers. At King’s Cross, for example, the complex land assembly and master planning work carried out by LCR unlocked a £3bn mixed-use redevelopment, now an instantly-recognisable and high-profile destination.

As a public corporation, we also have a clear mandate to support the Government’s drive to deliver new homes, jobs and investment, and the rebalancing of the economy. Our collaboration with a range of local government partners and transport authorities is helping to bring forward some of the UK’s largest regional development projects. This includes Mayfield in Manchester – the King’s Cross of the North – the redevelopment of Axis Square in Birmingham and a major station-linked regeneration scheme in Leeds.

But our ambition does not stop there. As a regeneration and placemaking expert, on behalf of the UK Government, LCR has a major role to play in ensuring more places

reach their potential. Using our unique combination of an inherent understanding of public bodies and embedded commercial and development expertise, we have outlined an ambitious strategy for the next 10 years.

In partnership with developers, housing bodies, local and central government agencies and transport authorities, we are working to unlock development and regeneration opportunities across the UK’s network of railway stations and their surrounding land. Through this work, we are creating the conditions to deliver tens of thousands of new homes and jobs.

I was proud to become Chairman of LCR’s board in April 2019, joining an organisation that shares my vision of championing public value and urban regeneration, and that is increasingly recognised as the go-to for bridging the public and private sectors to unlock the most challenging sites for development.

This brochure provides more information on LCR’s activities across our development and management portfolio. I hope you find it an interesting read, and if you would like to discuss any aspect of our work in more detail, I and the LCR executive team would be very happy to hear from you.

ABOUT LCRA skilled commercial developer and sustainable regeneration expert, LCR has a 25-year track record of creating exciting new destinations for people to live, work and experience. Using its unique position on the cusp of the public and private sectors, it works to unlock the most complex sites, creating value from underused public sector real estate assets and delivering great places for the benefit of society.

LCR was responsible for the delivery of the High Speed 1 railway, which included St. Pancras International, Stratford International and Ebbsfleet. It also led the complex land assembly and master-planning to unlock the £3bn mixed-use redevelopment of King’s Cross – one of the UK’s most successful regeneration stories.

Today, LCR is embarking on an ambitious strategy to facilitate the delivery of tens of thousands of new homes and jobs, and generate in excess of £7bn of public value, through leveraging our unique position at the interface of the public, private, rail and real estate sectors.

Across the UK, LCR is also progressing a number of major development projects, including the regeneration of the 24-acre Mayfield site in Manchester, with U+I, Manchester City Council and Transport for Greater Manchester, and the 1 million sq ft redevelopment of the Axis site in Birmingham.

In London, LCR is delivering the £2.4bn International Quarter London scheme in Stratford, in a joint venture with Lendlease, and is developing Waterloo.London – a new 135,000 sq ft retail and leisure destination at the former Eurostar terminal.

Nationally, LCR is continuing to partner with local authorities and key transport bodies to bring forward development around stations across the country, unlocking investment, creating new homes and jobs, and creating positive change within local communities.

LCR is wholly-owned by the Department for Transport.

INTRODUCTION

Nick Markham,Chairman, LCR

KING'S CROSS, LONDON

LEAKE STREET ARCHES, LONDON

MAYFIELD, MANCHESTER*

5LCR PROPERTY

CREATIVE PROBLEM SOLVERSFrom challenging sites, we enable the creation of great places for the benefit of society.

The goal: transforming underused public sector real estate assets, particularly around railway stations and key transport hubs, into exciting new destinations for people to live, work and experience.

INTERNATIONAL QUARTER LONDON (IQL)Maintaining the legacy of the home of the London 2012 Olympics

• £2.4bn development• 4m sq ft of commercial space• 25,000 new jobs• 600 new homes• Projected £2.9bn contribution to GVA

MAYFIELD, MANCHESTER A vibrant new city centre community for Manchester

• £1.4bn development• 1,300 new homes• 1.7m sq ft of commercial space • 650-room hotel• 6.5 acre park• Projected £850m GDV

IQL, LONDON - AFTER

MAYFIELD, MANCHESTER*

BEFORE REDEVELOPMENT

MAYFIELD, MANCHESTER*

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GENERATORS OF PUBLIC VALUELCR’s development philosophy is centred on imaginative, sustainable regeneration and creative placemaking to deliver public value.

Our approach: taking sites through every stage of the planning and development process, championing regeneration from start-to finish.

WATERLOO.LONDONA benchmark for progressive retail and transport destinations in the UK in the heart of London’s South Bank.• Anchored by Time Out Market

• 130,000 sq ft of space for local, independent and national retail and leisure occupiers

• Annual footfall of over 100 million with the regeneration of the former Eurostar platform

• 700 new jobs

• Projected £188m GDV

WATERLOO, LONDON

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Collaborating with partners, including local authorities, developers, LEPs and government agencies, is key to unlocking strategic sites and enabling the delivery of outstanding developments.

Our focus: meaningful outcomes, not short-term returns.

NETWORK RAIL COLLABORATIONBuilding on our 10 year relationship with Network Rail, in 2018 we entered into a formal Collaboration Agreement to enable us to unlock value from its portfolio of 2,500 UK railway stations and surrounding land, to create new housing and employment space.

Following an initial assessment, there are now 19 active schemes in the current Collaborative Working Portfolio.

• Delivering c.5,000 residential units

• Over 2m sq ft of commercial development

• More than £2bn GDV potential

• Enhancing passenger experience through connectivity and integration

We are continuing to conduct an ‘open book’ review to identify further opportunities for development and regeneration.

GREATER MANCHESTER STATION ALLIANCE Creating gateways to the city centre.

• Partnership between Transport for Greater Manchester, Network Rail, relevant rail franchises and LCR

• Developing stations as gateways between communities and the railway

• Investment in transport hubs as a catalyst for change

• Circa 20 sites identified with potential for more than 3,000 homes

LEEDS STATION DEVELOPMENTTransforming the busiest station in the north.

• Integration of HS2, Northern Powerhouse Rail and new and existing rail services

• Driving investment into Leeds South Bank

• Enhanced public realm

• 2m sq ft of commercial space

• 650 new homes

• 35,000 jobs created

DELIVERINGPUBLIC VALUEIN PARTNERSHIP

LEEDS STATION

DEANSGATE STATION, MANCHESTER

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ASSET MANAGEMENT Our in-house team is responsible for a growing portfolio of commercial, retail and leisure destinations across the UK. We also manage a substantial number of property interests on behalf of the Department for Transport.

A long-term view: we provide hands-on stewardship and ongoing investment to maximise value for the local area.

RTC BUSINESS PARK, DERBY

LEAKE STREET ARCHES, WATERLOO

A centre of high-tech engineering and one of Derby’s biggest employment sites• Home to a workforce of over 1,300

• 430,000 sq ft of office accommodation

• 28 acres of landscaped grounds

• High-profile tenants including Hitachi, Network Rail, Serco and Siemens

A buzzing creative and leisure destination beneath the platforms of Waterloo• World-famous destination for street art

• 130 new jobs

• 23,250 sq ft of retail space

• Home to independent restaurants, a music venue and microbrewery

LEAKE STREET ARCHES, LONDON LEAKE STREET ARCHES, LONDON

RTC BUSINESS PARK, DERBY

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LCR PROPERTIES AND PROJECTS We work in partnership with local authorities, transport bodies and development specialists to create exciting new destinations. Our portfolio extends across multiple regions and we are proud to play a central role in unlocking strategic and challenging sites to deliver some of the country’s most significant regeneration schemes.

We are driven by our passion to deliver the most imaginative and creative projects, working to generate positive change and public value.

MANCHESTERMayfield, Manchester

£1.1bn, 24-acre regeneration scheme in Manchester city centre

Piccadilly Gate, Manchester 125,000 sq ft of office accommodation

adjacent to Manchester Piccadilly Station

Greater Manchester Station Alliance

Working with Transport for Greater Manchester and Network Rail to develop the regional stations as quality gateways

between communities and the railway, supporting the changing needs of passengers, residents and visitors

LEEDSLeeds Integrated Station Masterplan Redevelopment of Leeds station in partnership with Leeds City Council and Network Rail

SHEFFIELDSheffield Station Partnership with Sheffield City Council to maximise regeneration opportunities around the station

STAFFORDRegeneration and development

around Stafford stationCollaboration with Staffordshire

County Council, Stafford Borough Council and Network Rail to

identify and develop regeneration opportunities within the

Stafford Gateway

DERBYRTC Business Park, DerbyEngineering cluster featuring 430,000 sq ft of refurbished office accommodation

BIRMINGHAMAxis Birmingham

1m sq ft development of Grade A office

accommodation and a new public square

WORTHINGUnion Place, Worthing

Land pool agreement with Worthing Borough Council to drive

homes, jobs and investment at a key development site

CROYDONSouthern House, Croydon

200,000 sq ft of office accommodation in Croydon’s

Central Business District

LONDONWaterloo.London

135,000 sq ft retail and leisure development in the heart of

the South Bank

Leake Street Arches, Waterloo A vibrant creative and leisure destination set

within regenerated railway arches

Maria Fidelis school, Euston£14 million investment to transform a

former school building close to Euston station into new workspace, a community

facility and construction skills centre

STRATFORDInternational Quarter London (IQL) £2.4bn mixed-use development of Grade A office space and new homes in Stratford

SOUTHERN HOUSE, CROYDON

AXIS, BIRMINGHAM

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LAND AND PROPERTY SERVICESOur expertise in land and property matters is made available to support the Department for Transport and other Government agencies.

• We act as HS2 Independent Land Advisor for the DfT, providing assurance on HS2’s land assembly activities

• We monitor the performance of Highways England in its day-to-day management of the Rail Heritage Estate

OFFICEACCOMMODATIONFOR THEGOVERNMENTAND PRIVATESECTORTHE AXIS, BIRMINGHAM• 175,000 sq ft office space

• 4.5-acre landscaped site

• Generating £300m for the regional economy

SOUTHERN HOUSE, CROYDON • 200,000 sq ft office space

• Modern, open plan working space for Government agencies

• Residential redevelopment opportunity to deliver c. 170 units

PICCADILLY GATE, MANCHESTER • 125,000 sq ft office space

• £25m refurbishment

• BREEAM Excellent rated

LEEDS STATION AXIS, BIRMINGHAMPICCADILLY GATE, MANCHESTER

SOUTHERN HOUSE, CROYDON

KEY CONTACTSPETER HAWTHORNEChief ExecutivePeter.Hawthorne@lcrproperty.co.uk

LUCY ROBINSONAsset Management DirectorLucy.Robinson@lcrproperty.co.uk

JAMIE KERRPartnerships & Property DirectorJamie.Kerr@lcrproperty.co.uk

ALAN PEELOFinance Director & Company SecretaryAlan.Peelo@lcrproperty.co.uk

NIGEL CRAINEYCorporate Services & Transformation DirectorNigel.Crainey@lcrproperty.co.uk

info@lcrproperty.co.uk www.lcrproperty.co.uk

20 Cranbourn StreetLondon WC2H 7AA

Telephone: 020 7391 4300

* Image credit U+I