Verdion and Legal & General'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 development, to be called LiteHub Greenwich, will be built speculatively as a multi-let industrial park and is scheduled to be ready for occupation from the fourth quarter of 2027. It will provide 78,986 sq ft of new floorspace across six small to mid-box units, with individual buildings ranging from 5,555 sq ft to 16,000 sq ft.
The units are each targeting a BREEAM 'Excellent' rating and an EPC 'A+' rating. The plans combine 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 described as being 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 act as developer on behalf of L&G, which will own the completed asset.
Developer's view
John Clements, executive director of Verdion and head of its UK activity, said the Greenwich location offered considerable potential for value creation. He pointed to high volumes of new residential development coming forward nearby, alongside constrained industrial and logistics supply, as giving the company scope to create a modern, multi-let park for occupiers seeking new opportunities close to the City and the M25.
Clements added that LiteHub Greenwich would become the first asset in Verdion's UK-wide urban logistics platform, which is to target brownfield redevelopment opportunities close to major population centres, underpinned by strong ESG credentials.
Speculative build in a constrained market
Building speculatively means the park will go ahead without a pre-let tenant in place. The rationale set out by the developer rests on the combination of incoming residential demand in the surrounding area and limited industrial and logistics supply — a reading offered by Verdion rather than a confirmed market outcome.
The site's position relative to the Blackwall and Silvertown Tunnels and the M25 is presented as an accessibility advantage for occupiers serving central London and the wider motorway network.
Unit sizes spanning 5,555 sq ft to 16,000 sq ft are aimed at small and mid-box occupiers, a segment the developer argues is short of modern space near major population centres.