Verdion and L&G’s Industrial Property Investment Fund (IPIF) have received planning permission for a £30 million urban logistics scheme in the West Thamesmead Opportunity Area within the London Borough of Greenwich.
The project, named 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.
Each unit will range from 5,555 sq ft to 16,000 sq ft. The plans target BREEAM “Excellent” and EPC “A+” ratings, supported by a whole-life carbon focus, 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. According to the announcement, 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.
The development is intended to use a brownfield parcel in an established industrial area. The six-unit layout offers space in smaller increments than a single large warehouse, while the location is presented as an advantage for occupiers seeking proximity to central London, the M25 and nearby residential areas.
Verdion will develop 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 Greenwich location offers significant value-creation potential. He pointed to large volumes of new residential development nearby and constrained industrial and logistics supply, adding that the site can support a modern multi-let park for occupiers seeking space close to the City and the M25.
Clements also said LiteHub Greenwich would become the first asset in Verdion’s UK-wide urban logistics platform. That platform is focused on brownfield redevelopment opportunities with strong ESG credentials close to major population centres, according to his statement.
Planning permission covers the development of the six-unit park. Verdion’s role spans development delivery, while L&G’s IPIF will hold the asset. The announcement did not name tenants or disclose a construction start date.
The consent adds new small to mid-box supply to an established industrial location, although the scheme is speculative and not due for occupation until Q4 2027. The announced sustainability targets and social safeguards form part of the plans; the project’s eventual environmental performance will depend on delivery and operation.