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, inside the London Borough of Greenwich.
The project, named LiteHub Greenwich, will be developed speculatively as a multi-let industrial park offering 78,986 sq ft of new floorspace across six small to mid-box units. Individual units will range from 5,555 sq ft to 16,000 sq ft, and the space is scheduled to be ready for occupation from the fourth quarter of 2027.
Each unit is being designed to achieve BREEAM 'Excellent' and an EPC 'A+' rating. The plans combine a whole-life carbon approach with high energy performance and resilience, biodiversity-positive measures, and supply chain and site social safeguards, according to the developers.
The 2.6-acre brownfield site lies in an established industrial area on Nathan Way, about 5 miles east of the Blackwall and Silvertown Tunnels and 9 miles from the M25. It sits close to Lombard Square, the 1,900-home development being built by Berkeley Homes and Peabody.
Verdion will develop 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 substantial potential for value creation, pointing to large volumes of new housing coming forward nearby alongside constrained industrial and logistics supply.
He added that the site allows a modern multi-let park to be created for occupiers seeking space close to the City and the M25, and that LiteHub Greenwich will become the first asset in Verdion's UK-wide urban logistics platform, which targets brownfield redevelopment opportunities backed by strong ESG credentials near major population centres.