Plans have been announced for a new £30 million prime urban logistics development in the London Borough of Greenwich’s West Thamesmead Opportunity Area.
The 2.6-acre brownfield site is located on Nathan Way, part of the West Thamesmead/Plumstead Industrial Area and West Thamesmead Strategic Industrial Location (SIL).
This scheme, 5.3 miles east of the Blackwall and Silvertown Tunnels and 8.9 miles from the M25, will provide 78,987 sq ft of new floorspace in six small to mid-box units ranging from 7,500 to 18,000 sq ft.
It will target Building Research Establishment Environmental Assessment Method (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 developer Verdion’s UK-wide urban logistics strategy, targeting brownfield redevelopment opportunities underpinned by strong ESG credentials close to major population centres.
Verdion will be responsible for the development of the site on behalf of L&G, who will be the asset owner.
It is the first partnership between the two firms, reflecting an increasing commitment by both to strategic urban logistics sites with strong growth potential.
Mark Garrity, Development Director UK at Verdion, said: “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.”
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