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, named LiteHub Greenwich, will be developed speculatively as a multi-let industrial park. It is planned to offer 78,986 sq ft of new floorspace across six small to mid-box units, with occupation targeted from the fourth quarter of 2027.
Scheme specification
- 78,986 sq ft of new floorspace
- Six small to mid-box units
- Individual units from 5,555 sq ft to 16,000 sq ft
- Occupation targeted from Q4 2027
The partners are targeting BREEAM “Excellent” certification and an EPC “A+” rating. The plans include a whole-life carbon focus, high energy performance and resilience, biodiversity-positive measures, and supply-chain and site social safeguards.
Brownfield site and ownership
The 2.6-acre brownfield site is located in an established industrial area on Nathan Way, 5 miles east of the Blackwall and Silvertown Tunnels and 9 miles from the M25. It is 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. John Clements, executive director of Verdion and head of its UK activity, said the Greenwich location offered “a great deal of potential for value-creation.” He pointed to high volumes of new residential development nearby and constrained industrial and logistics supply, adding that the scheme could create a modern, multi-let park for occupiers seeking new opportunities close to the City and the M25.
Clements also said LiteHub Greenwich would become the first asset in Verdion’s UK-wide urban logistics platform. That platform, he said, is targeting brownfield redevelopment opportunities close to major population centres, underpinned by strong ESG credentials.
The speculative nature of the project means the space is being developed without secured tenants. Its timing and unit mix are intended to respond to demand from occupiers needing smaller urban logistics space in an area where new homes are being added and industrial supply is described as constrained.
The Nathan Way location places the planned park within an established industrial area. The nearby residential pipeline forms part of the context cited by Verdion for the scheme, alongside constrained industrial and logistics supply. The site’s access to the City and the M25 is central to the occupier case set out by the developer.
Planning consent confirms the proposed use and scale, but construction, letting and certification outcomes remain subject to later stages. The BREEAM and EPC ratings are targets rather than completed certifications.