Verdion and L&G’s Industrial Property Investment Fund (IPIF) have received 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, with the first units intended to be ready for occupation from the fourth quarter of 2027.
The scheme will add 78,986 sq ft of new floorspace across six small to mid-box units. Individual units will range from 5,555 sq ft to 16,000 sq ft. Verdion will lead development on behalf of L&G, which will own the asset. The developer described the project as the first asset in a UK-wide urban logistics platform focused on brownfield redevelopment opportunities near major population centres.
Brownfield site close to transport links
The 2.6-acre site is located in an established industrial area on Nathan Way. According to the announcement, it sits five miles east of the Blackwall and Silvertown Tunnels and nine miles from the M25. It is also close to Lombard Square, a new 1,900-home development by Berkeley Homes and Peabody. Verdion and IPIF link the site’s appeal to that residential growth and to constrained industrial and logistics supply in the area.
The plans target BREEAM “Excellent” and EPC “A+” ratings. The sustainability strategy includes a whole-life carbon focus, high energy performance and resilience, biodiversity-positive measures, and supply chain and site social safeguards. These are targets rather than completed outcomes at this stage.
Speculative development in a tight market
The scheme is speculative, meaning it is being developed without occupiers already committed. It will test demand for modern small to mid-box space close to central London and the motorway network. 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 coming forward nearby and constrained industrial and logistics supply.
Clements added that the team sees scope to create a modern, multi-let park for occupiers seeking new opportunities close to the City and the M25. He also said LiteHub Greenwich would become the first asset for Verdion’s UK-wide urban logistics platform, which targets brownfield redevelopment underpinned by strong ESG credentials near major population centres.
The permission advances the project to the development stage, but occupation remains scheduled for Q4 2027. The scheme is positioned near new housing and existing industrial clusters, a combination highlighted by the applicants. Its stated environmental standards, six-unit configuration and speculative delivery model will be the main points to watch as construction and letting progress.