35

Department anticipates mixed funding for Euston station, including significant private investment.

Conclusion
We also challenged the Department on the likelihood of obtaining the more than £6 billion that the station at Euston is estimated to cost from the private sector. The Department suggested that the funding for Euston would likely be a mix of four components: private financing of the HS2 station; development receipts from commercial development; tax increment finance or contributions from local government; and some residual public funding. The Department told us that it had carried out some early market–testing of the potential for private financing and as a result believes it is a viable option. The Department said that once decisions are taken on the delivery model and spatial allocation, and the detailed design of the station has begun, there will be a better understanding of the potential commercial return and likely level of private investment.60
Government Response

A response document is linked to this report, dated 16 May 2025. Response attribution to this conclusion has not been verified. Read the response document.

Addressee Bodies
HM Treasury
Timeline
Recommendation age 1.5 yrs
Report published 28 Feb 2025