Verdion and Legal & General’s Industrial Property Investment Fund (IPIF) have received 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 scheduled to be ready for occupation from the fourth quarter of 2027 and will offer 78,986 sq ft of new floorspace in six small to mid-box units.
Unit sizes will range from 5,555 sq ft to 16,000 sq ft. The developer is targeting BREEAM “Excellent” certification and an EPC “A+” rating. The plans include a whole-life carbon approach, high energy performance and resilience, biodiversity-positive measures, and supply-chain and site social safeguards.
The scheme will occupy a 2.6-acre brownfield site in an established industrial area on Nathan Way. The location is about five miles east of the Blackwall and Silvertown tunnels and nine miles from the M25. It is also close to Berkeley Homes and Peabody’s 1,900-home Lombard Square development.
Verdion will develop the site on behalf of L&G, which will own the asset.
John Clements, executive director of Verdion and head of its UK activity, said the Greenwich location offered considerable potential for value creation. He pointed to high volumes of new residential development nearby and constrained industrial and logistics supply, adding that the site could support a modern multi-let park for occupiers seeking space close to the City and the M25.
Clements also said LiteHub Greenwich would be the first asset in Verdion’s UK-wide urban logistics platform. That platform, he said, focuses on brownfield redevelopment opportunities with strong ESG credentials near major population centres.