Go ahead at planning for Verdion/L&G Greenwich urban logistics

Verdion and L&G’s Industrial Property Investment Fund (‘IPIF’) have been given the green light at planning committee for a £30 million urban logistics scheme within the London Borough of Greenwich’s West Thamesmead Opportunity Area.

LiteHub Greenwich will now be developed speculatively to create a best-in-class multi-let industrial park ready for occupation from Q4 2027. It will offer 78,986 sq ft of new floorspace in six small to mid-box units ranging from ~5,555 to 16,000 sq ft, targeting BREEAM Excellent/ EPC A+. A whole-life carbon focus, high energy performance and resilience, biodiversity positive measures, and supply chain and site social safeguards all form part of the plans.

The 2.6-acre brownfield opportunity is located within an established industrial area on Nathan Way – 5 miles east of the Blackwall and Silvertown Tunnels and 9 miles from the M25 – close to Berkeley Homes and Peabody’s new 1,900-home Lombard Square development.

It is the first partnership between Verdion and L&G, reflecting an increasing commitment on both sides to strategic urban logistics sites with strong growth potential. Verdion will be responsible for the development of the site on behalf of L&G, who will be the owner of the asset.

John Clements, Executive Director of Verdion and head of its UK activity, said: “This location within LB Greenwich offers a great deal of potential for value-creation. With high volumes of new residential coming forward nearby and constrained industrial & logistics supply, we have scope to create a modern, multi-let park for occupiers seeking new opportunities close to the City and M25. It will become the first asset for our UK-wide urban logistics platform, targeting brownfield redevelopment opportunities underpinned by strong ESG credentials close to major population centres.”

Matt Lilley, Assistant Fund Manager (IPIF) and Head of Industrial Development Strategies, L&G, said: “The successful planning approval for LiteHub Greenwich is a testament to the quality of the proposed development, providing high quality industrial & logistics accommodation for occupiers and future job creation in a core London market. It allows IPIF to now progress the scheme in line with Fund strategy to upweight to UK Net Zero Carbon compliant urban logistics assets in strong growth locations.”

Leasing agents for the scheme are CBRE and Glenny. The architects are Corstorphine & Wright, working in conjunction with Verdion’s in-house technical team. The planning consultant was Quod.