Verdion and L&G’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, to be known as LiteHub Greenwich, will be built speculatively as a multi-let industrial park. It is scheduled to be ready for occupation from the fourth quarter of 2027 and will provide 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. The plans target BREEAM “Excellent” and EPC “A+” ratings, combining a whole-life carbon focus with high energy performance and resilience, biodiversity-positive measures, and supply chain and site social safeguards.
The 2.6-acre brownfield site sits within an established industrial area on Nathan Way. It is five miles east of the Blackwall and Silvertown tunnels and nine miles from the M25, 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 location offered significant potential for value creation.
Clements cited the high volume of new residential development nearby and constrained industrial and logistics supply. He said the partners saw scope to create a modern, multi-let park for occupiers seeking new opportunities close to the City and the M25.
He added that LiteHub Greenwich would become the first asset in Verdion’s UK-wide urban logistics platform. The platform is targeting brownfield redevelopment opportunities that are underpinned by strong ESG credentials and located close to major population centres.
The scheme is aimed at small- and mid-box occupiers in a part of south-east London where the partners describe industrial and logistics supply as constrained. It is being brought forward speculatively, so the park is not yet tied to confirmed tenants, with the development programme targeting first occupation in late 2027.