£30m Greenwich logistics park targets Q4 2027 occupation

Verdion and L&G’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. Verdion will develop LiteHub Greenwich speculatively, creating a multi-let industrial park with 78,986 square feet of new floorspace, and targets occupation from Q4 2027.

• Site: A 2.6-acre brownfield plot on Nathan Way in an established industrial area, five miles east of the Blackwall and Silvertown Tunnels and nine miles from the M25.
• Space: 78,986 square feet of new floorspace distributed among six small to mid-box units.
• Unit sizes: Between 5,555 and 16,000 square feet, making the largest box nearly three times the area of the smallest.
• Sustainability: Each unit targets BREEAM ‘Excellent’ and an EPC ‘A+’ rating.

The scheme gives L&G an owned industrial asset once complete, with Verdion acting as developer on the owner’s behalf. It also sits close to Lombard Square, the new 1,900-home development by Berkeley Homes and Peabody, which supports Verdion’s demand case for smaller urban logistics premises.

John Clements, Verdion’s executive director and head of UK activity, said the location offered substantial value-creation potential. He added: “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.”

He also framed the scheme as a platform move: “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.”

The environmental brief gives that platform claim some substance. A whole-life carbon focus, high energy performance and resilience, biodiversity-positive measures, and supply-chain and site social safeguards form part of the plans. BREEAM ‘Excellent’ and EPC ‘A+’ remain targets, rather than certifications already secured for the finished units.

What does this change for shippers and occupiers?

For occupiers, the change is six future boxes in a location where Verdion says industrial and logistics supply is constrained. The multi-let format offers choices from 5,555 to 16,000 square feet, so a business can align a unit with its scale rather than take a much larger building. The catch is timing: none of this space expands supply now.

For shippers, carriers and forwarders, the change is potential warehouse floor space, not contracted transport capacity. The announcement names no tenant, carrier, haulier or logistics operator, and sets out no loading-bay, HGV, routing or delivery-window commitments. The road distances give users a clear location benchmark, but they do not promise service performance. Property headlines occasionally do more freight work than the paperwork supports.

The £30 million figure establishes the development’s headline scale, although the announcement gives no split between construction, fit-out, financing or other costs. For L&G, LiteHub adds a logistics-focused holding once it opens; for Verdion, it establishes the first asset of its UK-wide urban logistics platform. Both outcomes still depend on delivery and occupation.

Nearby housing provides part of the investment logic. Clements links new residential growth with constrained logistics supply and sees scope for occupiers close to the City and M25. That does not establish retail, parcel or fulfillment demand by itself. The six-unit mix will have to attract actual operators, and the announcement does not identify them or disclose the final allocation by size.

Forwarders can still treat the project as a future node when advising customers with long property horizons. For everyone else, Q4 2027 is the operative date, not today’s planning headline. If Verdion delivers the permitted scheme on schedule, Greenwich will gain 78,986 square feet of new small and mid-box logistics capacity; until then, it remains future supply rather than an answer to present constraints.