The UK Department for Transport (DfT) has begun early market engagement in London with potential private sector partners to explore a public-private partnership (PPP) to Design, Build, Finance and Maintain (DBFM) the planned HS2 Euston high-speed rail station terminus.

The government has spent years developing a masterplan for a comprehensive station scheme that would combine the future HS2 terminus with a rebuilt Network Rail station, improved links to the existing London Underground station, and new residential development constructed above the site. However, the earlier station design was progressively reduced in scope and ultimately abandoned after costs escalated significantly. As a result, it was agreed that HS2 services would initially terminate at Old Oak Common, with the central London terminus at Euston to be completed at a later stage. Under the planned PPP arrangement, a private sector partner would take on responsibility for the detailed design and construction of the HS2 Euston Station infrastructure, as well as its long-term maintenance under an extended contractual agreement. 

HS2 Euston Station is a central element of the wider Euston programme, which encompasses the reconstruction of the existing mainline station, major enhancements to the London Underground interchange, upgrades to surrounding bus and taxi facilities, and broader development around the station area. The site lies at the core of wider regeneration plans led by Camden Council and the Greater London Authority. The DfT is in the process of setting up the Euston Delivery Company (EDC), which will act as the overarching body guiding the programme. The EDC is expected to oversee the creation of a modern, fully integrated transport hub at Euston while also supporting the implementation of a comprehensive development masterplan being advanced by DfT’s master development partner, Lendlease.

Alongside — but distinct from — the DBFM market engagement, the Euston Delivery Company intends to appoint an engineering and design partner (E&DP) to serve as the lead designer and overall design integrator for the Euston campus programme. The E&DP is expected to provide ongoing design stewardship and to develop the HS2 Euston Station design to RIBA Stage 3 (or an equivalent level) before the DBFM private sector partner proceeds with the detailed design phase.