Verdion and L&G partner for Greenwich urban logistics hub

Verdion is expanding its urban logistics portfolio in the UK by acquiring a prime development site in London's Greenwich for £30 mln (€34.8 mln). 

Nathan Way logistics park

This 1.05-hectare brownfield site, located on Nathan Way, will be developed by Verdion on behalf of L&G, who will own the asset. The plan is to build a top-tier urban logistics facility with 7,338 m2 of space, divided into six units ranging from 697 m2 to 1,672 m2
The project will prioritize sustainability, aiming for BREEAM Excellent/EPC A+ ratings, focusing on whole-life carbon, energy efficiency, biodiversity, and social safeguards. 
Nathan Way is part of the West Thamesmead / Plumstead Industrial Area and West Thamesmead Strategic Industrial Location (SIL). The site is strategically located near major transportation routes and new residential developments. 
This acquisition aligns with Verdion's broader UK strategy to redevelop urban brownfield sites, focusing on sustainability and proximity to large population centres. It is also the first partnership between Verdion and L&G.
Mark Garrity, development director UK at Verdion, 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.”
Matt Lilley, assistant fund manager on IPIF and head of Industrial Development Strategies, said: “The acquisition of Nathan Way reflects our strategy of allocating to high growth industrial sub-sectors such as urban logistics, and allows us implement net zero-carbon credentials from day one, future proofing the asset and providing high quality accommodation to an undersupplied London sub-market.”
The buyers were advised by CBRE, DWF and Macfarlanes, while Glenny advised the sellers.