Verdion and Legal & General'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, named LiteHub Greenwich, will be developed speculatively as a multi-let industrial park, offering 78,986 sq ft of new floorspace in six small to mid-box units. Individual units will range from 5,555 sq ft to 16,000 sq ft, and the park is scheduled to be ready for occupation from the fourth quarter of 2027. Building speculatively means construction is expected to proceed without pre-let agreements in place.
Environmental targets and site position
According to the developers, the scheme targets BREEAM 'Excellent' certification 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 development occupies a 2.6-acre brownfield plot within an established industrial area on Nathan Way. Its stated position is five miles east of the Blackwall and Silvertown Tunnels and nine miles from the M25, beside Berkeley Homes and Peabody's new 1,900-home Lombard Square development.
Roles and developer rationale
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 location offered considerable potential for value creation, citing high volumes of new residential development coming forward nearby alongside constrained industrial and logistics supply.
Clements said that combination gave the company 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, which targets brownfield redevelopment opportunities underpinned by strong ESG credentials and located close to major population centres.
The six-unit format is aimed at occupiers seeking smaller footprints than large distribution centres. Verdion presents constrained industrial and logistics supply in the area, together with the growth in nearby housing, as the basis for the speculative approach.
With occupation targeted from the fourth quarter of 2027, the new space will not add to local supply before then. The announcement does not set out a construction start date, capital partners beyond IPIF, or any pre-letting commitments; occupier demand, rents and the park's eventual environmental performance will only be established once the buildings are completed and let.