Verdion and Legal & General'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 project, to be known as LiteHub Greenwich, will be developed speculatively as a multi-let industrial park. Verdion will build the scheme on behalf of L&G, which will own the completed asset.
LiteHub Greenwich will provide 78,986 sq ft of new floorspace in six small to mid-box units, each ranging from 5,555 sq ft to 16,000 sq ft. The park is being brought forward on a speculative basis, with occupation targeted from the fourth quarter of 2027.
Site and specification
The 2.6-acre brownfield plot sits within an established industrial area on Nathan Way, five miles east of the Blackwall and Silvertown tunnels and nine miles from the M25. It is close to Lombard Square, the 1,900-home development being delivered by Berkeley Homes and Peabody.
Verdion is targeting BREEAM 'Excellent' certification and an EPC 'A+' rating for the buildings. The plans combine a whole-life carbon focus with high energy performance and resilience, biodiversity-positive measures, and safeguards covering both the supply chain and site social conditions.
Planning consent allows the £30 million programme to proceed as a speculative build, with the developer committing to the scheme ahead of securing occupiers.
Value-creation case
John Clements, executive director of Verdion and head of its UK activity, said the location offers a great deal of potential for value creation. He pointed to high volumes of new residential development coming forward nearby and constrained industrial and logistics supply, which he said gives scope to create a modern multi-let park for occupiers seeking new opportunities close to the City and the M25.
According to Clements, LiteHub Greenwich will 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.
Urban format
The unit sizes, between 5,555 sq ft and 16,000 sq ft, are designed for occupiers that need compact footprints; the developer says such space is in short supply locally. With six units rather than one large warehouse, the park is structured for multiple occupiers taking smaller footprints.
The commercial case set out by the developer rests on new housing nearby, limited competing supply and access to both central London and the motorway network. Its position near the M25 and the river crossings is presented as an advantage for servicing and distribution trips.
Urban delivery themes, including autonomous delivery and last-mile infrastructure, are scheduled for discussion at the Urban Logistics exhibition at ExCeL London on 9-10 June 2027.