Logistics real estate specialist Verdion and L&G’s Industrial Property Investment Fund (IPIF) have secured an urban logistics development site within the London Borough of Greenwich’s West Thamesmead Opportunity Area.
Verdion will be responsible for the development of the site on behalf of L&G, who will be the asset owner.
The 2.6-acre brownfield opportunity with a GDV of £30m is located on Nathan Way, part of the West Thamesmead/Plumstead Industrial Area and West Thamesmead Strategic Industrial Location (SIL).
The site will now be developed speculatively to create an urban logistics scheme, providing 78,987ft² of new floorspace in six small to mid-box units ranging from – 7,500ft² to 18,000ft².
The scheme will target BREEAM ‘Excellent’ EPC ‘A+’ and include a whole-life carbon focus, high energy performance and resilience, biodiversity positive measures and supply chain and site social safeguards.
The acquisition is part of Verdion’s UK-wide urban logistics strategy, targeting brownfield redevelopment opportunities underpinned by strong ESG credentials close to major population centres.
Development director UK at Verdion, Mark Garrity, said: “This acquisition is a significant milestone for our UK strategy, and its Thamesmead location sets a clear standard for Verdion’s future acquisition programme.
“High levels of demand are anticipated, both from displaced occupiers further north and west, and from new tenants attracted by inner South East London’s improved transport links.
“Our masterplan has been optimised to accommodate a wide range of sizes and uses to capitalise on this geographic shift and we are now ready to move forward with these speculative development plans targeting Q2 2027 completion.”
