Planning permission has been granted to Verdion and Legal & General’s Industrial Property Investment Fund (IPIF) for a £30 million urban logistics scheme in the London Borough of Greenwich’s West Thamesmead Opportunity Area. The project, LiteHub Greenwich, will be developed speculatively as a multi-let industrial park, with 78,986 sq ft of new floorspace planned across six small to mid-box units. Occupation is targeted from the fourth quarter of 2027.
The units will range in size from 5,555 sq ft to 16,000 sq ft. The scheme is intended to target BREEAM “Excellent” and EPC “A+” ratings. Its environmental and social approach includes a whole-life carbon focus, high energy performance and resilience, biodiversity-positive measures, and supply chain and site social safeguards, according to the details released with the planning consent.
The 2.6-acre site is brownfield land within an established industrial area on Nathan Way. It is five miles east of the Blackwall and Silvertown Tunnels and nine miles from the M25. The location is also close to Berkeley Homes and Peabody’s new 1,900-home Lombard Square development.
Verdion will be responsible for developing 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 location within Greenwich offered considerable potential for value creation. He cited high volumes of new residential development nearby and constrained industrial and logistics supply as factors that could support a modern, multi-let park for occupiers seeking new opportunities 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 aimed at brownfield redevelopment opportunities underpinned by strong ESG credentials and located close to major population centres. The platform is intended to focus on sites near large population centres, with strong ESG credentials as a key criterion. The Greenwich scheme reflects that approach through its proposed environmental ratings, social safeguards and use of brownfield land.
The speculative approach means the park is being planned before occupiers are confirmed, with the six units intended to be let to multiple users. The unit range starts at 5,555 sq ft and rises to 16,000 sq ft. The scheme is also intended to combine small and mid-box space with environmental and social measures within an established industrial area on Nathan Way.
The permission allows the scheme to proceed, with development and occupation still ahead. No occupiers or rents were disclosed.