Verdion and Legal & General’s Industrial Property Investment Fund (IPIF) have secured planning permission for a £30 million urban logistics scheme in the West Thamesmead Opportunity Area, within the London Borough of Greenwich.
The development, named LiteHub Greenwich, is to be built speculatively as a multi-let industrial park. It is planned to be ready for occupation from the fourth quarter of 2027 and will add 78,986 sq ft of floorspace in six small to mid-box units.
The units are designed to range from 5,555 sq ft to 16,000 sq ft. The project is targeting BREEAM “Excellent” and EPC “A+” ratings. Its environmental and social provisions include a whole-life carbon focus, high energy performance and resilience, biodiversity-positive measures, and supply chain and site social safeguards, according to the announcement.
The scheme will occupy 2.6 acres of brownfield land in an established industrial area on Nathan Way. The site is five miles east of the Blackwall and Silvertown Tunnels and nine miles from the M25, and it sits close to Berkeley Homes and Peabody’s new Lombard Square development, which is planned to contain 1,900 homes.
Verdion will be responsible for developing the site on behalf of L&G, which will own the completed asset. John Clements, executive director of Verdion and head of its UK activity, said the Greenwich location offered considerable potential for value creation. He cited the large volume of new residential development nearby and constrained industrial and logistics supply as reasons for creating a modern multi-let park for occupiers looking for space near 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 is intended to target brownfield redevelopment opportunities with strong environmental, social and governance credentials in locations close to major population centres.
The consent establishes a planning position for a project focused on smaller urban logistics units. The proposed units are below the scale of large distribution warehouses, and the scheme is intended to serve occupiers seeking space in an urban setting. Because the development is speculative, the six units are planned for delivery without the announcement naming committed occupiers.
The scheme’s timeline places first occupation in late 2027, so the additional floorspace will not become available immediately. The plans combine the reuse of brownfield land with targets for energy and environmental performance, while the commercial case rests on demand from occupiers and the supply constraints identified by Verdion.