The challenge
The redevelopment of Euston is one of the greatest opportunities for transport-led regeneration in London and the UK, but the programme has a reputation for limited action and local distrust.
The Government established EDC to help unblock these issues and drive the redevelopment forward. The central challenge for EDC is ensuring delivery partners, including Transport for London, Network Rail, HS2 Ltd, the London Borough of Camden and Lendlease, work towards the same solution in a more unified and cohesive way than they have to date, all while railway assets on the site remain operational.
How we helped
We delivered a robust business case for EDC, on behalf of Department for Transport (DfT), and we are now helping EDC to stand up as an independent organisation – providing specialist commercial, procurement, programme management and governance advice.
We developed governance structures between the delivery partners, paving the way for more formal contractual arrangements to be agreed. We also helped EDC pass through Department for Transport, Cabinet and HM Treasury approval processes.
We have also advised EDC on the practical set up of the organisation, through assessment of required IT systems, HR policies and finance processes.
The results
Our support to EDC represents a successful, robust business case and reinforces our strength in building and retaining relationships with central government.
The advice we are providing to EDC has the potential to support significant social and economic growth for the surrounding area, if the vision for Euston is delivered successfully.
The next step is to ensure the stand up of EDC happens smoothly and enables the strategic rationale from the business case to be implemented to full effect.
About our team
This work was delivered by Grant Thornton's Complex Projects & Transactions team, working alongside colleagues from across the firm. The team has a strong track record advising central government, devolved administrations and combined and local authorities on complex infrastructure and transport programmes.
