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. The plans provide for 78,986 square feet of new floorspace arranged across six small to mid-box units.
Individual units will range from 5,555 square feet to 16,000 square feet. The multi-let format is intended to accommodate several occupiers on one site rather than a single large user.
Environmental targets
The partners are targeting BREEAM "Excellent" and EPC "A+" ratings. The proposals are built around a whole-life carbon focus, high energy performance and resilience, biodiversity-positive measures, and supply chain and site social safeguards.
Brownfield site on Nathan Way
The 2.6-acre plot is brownfield land within an established industrial area on Nathan Way. It sits 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 develop the site on behalf of Legal & General, which will own the completed asset. According to Verdion, LiteHub Greenwich will become the first asset in its UK-wide urban logistics platform, which targets brownfield redevelopment opportunities close to major population centres and is underpinned by environmental, social and governance credentials.
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 cited high volumes of new residential development coming forward nearby alongside constrained industrial and logistics supply, and said the company has scope to create a modern, multi-let park for occupiers seeking new opportunities close to the City and the M25.
The developer's case therefore rests on two local conditions it identifies: a large residential pipeline taking shape nearby and limited supply of industrial and logistics space in the area.
The structure separates delivery from ownership: Verdion takes the scheme through development while L&G's fund will hold the completed asset. Because the park is being delivered speculatively, construction is expected to proceed without tenants secured in advance, with occupation timed for the final quarter of 2027.
The consent allows the project to move from the application stage toward construction and delivery.