Verdion and L&G’s Industrial Property Investment Fund (IPIF) have been granted planning permission for a £30 million urban logistics scheme in the West Thamesmead Opportunity Area, within the London Borough of Greenwich.
The project, LiteHub Greenwich, will be developed speculatively as a multi-let industrial park. It is due to be ready for occupation from the fourth quarter of 2027 and will add 78,986 sq ft of new floorspace in six small to mid-box units.
The units are planned to range from 5,555 sq ft to 16,000 sq ft. The development is targeting BREEAM “Excellent” certification and an EPC “A+” rating. Its environmental and social scope includes a whole-life carbon focus, high energy performance and resilience, biodiversity-positive measures, and supply chain and site social safeguards, according to the plans.
Brownfield site in an established industrial area
The scheme will use a 2.6-acre brownfield site on Nathan Way. The location is within an established industrial area, 5 miles east of the Blackwall and Silvertown Tunnels and 9 miles from the M25. It is also close to Berkeley Homes and Peabody’s new 1,900-home Lombard Square development.
Verdion will be responsible for developing the site on behalf of L&G, which will own the asset. Verdion sees scope for occupiers seeking new opportunities close to the City and the M25.
Verdion cites residential growth and tight supply
John Clements, executive director of Verdion and head of its UK activity, said the location “offers a great deal of potential for value-creation.” He cited high volumes of new residential coming forward nearby and constrained industrial and logistics supply. In that context, he said there is scope to create a modern, multi-let park for occupiers seeking new opportunities close to the City and the M25.
Clements also said LiteHub Greenwich will become the first asset in Verdion’s UK-wide urban logistics platform. The platform is targeting brownfield redevelopment opportunities that are underpinned by strong ESG credentials and located close to major population centres, he added.
The plans combine small to mid-box units with a site close to both urban customers and the motorway network. The project would redevelop brownfield land for industrial use while new housing is delivered nearby. The industrial park is described as multi-let, with six separate units intended for occupation from Q4 2027.
The scheme is aimed at small and mid-box occupiers rather than a single large warehouse. Its six units are intended to provide space in an established industrial location, and the plans do not name any occupiers. The development partners are positioning it around ESG performance as well as access to central London and the motorway network.