Lendlease will make $300 million from the sale of a half stake in six UK urban regeneration projects to The Crown Estate, which manages the British royal family’s property holdings.

Lendlease said the sale, in a deal The Australian Financial Review flagged last week, was “slightly above” book value and would turn a profit of between $10 million and $30 million – after the end of this financial year – and would halve its longer-dated future funding commitments to $125 million.