Verdion and L&G’s Industrial Property Investment Fund (IPIF) have secured planning permission for a £30 million urban logistics scheme in the London Borough of Greenwich’s West Thamesmead Opportunity Area.
The project, to be known as LiteHub Greenwich, will be developed speculatively as a multi-let industrial park. It is designed to provide 78,986 sq ft of new floorspace across six small- to mid-box units, with occupation targeted from the fourth quarter of 2027.
Unit range and sustainability targets
Each unit at the scheme will range from 5,555 sq ft to 16,000 sq ft. The development is targeting BREEAM “Excellent” and an EPC “A+” rating. According to the announcement, the sustainability approach includes a whole-life carbon focus, high energy performance and resilience, biodiversity-positive measures, and supply chain and site social safeguards.
The site is a 2.6-acre brownfield opportunity within an established industrial area on Nathan Way. Its location is described as 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 new 1,900-home Lombard Square development.
Development and ownership roles
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 location within the London Borough of Greenwich offers “a great deal of potential for value-creation.”
He added that high volumes of new residential development are coming forward nearby and that industrial and logistics supply is constrained. 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 for Verdion’s UK-wide urban logistics platform. That platform, he said, will target brownfield redevelopment opportunities underpinned by strong ESG credentials close to major population centres.
What the consent allows
The permission covers the development of the six-unit scheme as a speculative multi-let park. The announced unit sizes place the project in the small- to mid-box segment, while the proposed ratings and environmental measures indicate that the partners intend to position the scheme around ESG performance as well as location.
The site’s brownfield status and its position within an existing industrial area are central to the proposal. The proximity to new housing at Lombard Square is also presented by Verdion as part of the context for demand, alongside constrained industrial and logistics supply.
Occupation is targeted from Q4 2027. The scheme has not yet been built, and the announced environmental ratings are targets rather than achieved certifications.