Palm Logistics announces €100m Investment in Naas Enterprise Park, Co. Kildare.

“Naas Enterprise Park has a very bright future” – Palm Logistics

The new owner of Naas Enterprise Park in County Kildare, leading specialist property investment firm Palm Logistics (Palm) has announced that it will invest significantly in a major upgrade of facilities and amenities in the park, in an initiative which will support and sustain long-term economic growth and job creation in Kildare.  

Palm will focus on long-term sustainability and economic success for Naas Enterprise Park.

Palm Logistics is an affiliate of Palm Capital, the pan-European real estate private equity firm, with operations and offices in London, Dublin and Madrid.

Palm is planning to invest €100m in the regeneration and development of Naas Enterprise Park over the next five years.  The company owns a large portfolio of industrial and logistics buildings in Ireland and acquired Naas Enterprise Park in December 2021.

Naas Enterprise Park is currently home to over 100 businesses employing over 2,000 people. Palm estimates that its new investment has the potential to double the workforce in the Enterprise Park while also supporting current employment.

Palm has a proven track record across Europe in regenerating urban logistics hubs, creating sustainable ecosystems where occupiers and local communities thrive and evolve.  As well as Naas Enterprise Park, and among other international investments, Palm recently developed Greenogue Logistics Park in Baldonnell, built the Los Gavilanes Logistics Park (Madrid, Spain) into the highest profile, market leading e-commerce hub in Spain and repositioned the Copenhagen (Airport) Cargo Centre in Denmark.

Palm’s sizeable investment programme is being driven by a dedicated Irish management team, supported by leading Irish architects and local property management experts.

Palm’s plans for Naas Enterprise Park include state-of-the-art new buildings to attract incoming occupiers, from Ireland and abroad, alongside measures to enhance the overall environment of the park, with substantial improvements to roads and footpaths, better lighting, very comprehensive tree planting and major landscaping for the benefit of workers and businesses. 

Palm said that a major emphasis will be placed on sustainability and enhanced public realm throughout all developments.  When finalised, the company’s proposals for Naas will include dedicated outdoor seating areas, exercise paths and cycle ways, which will bring the park into line with the most modern international standards of amenity and sustainability for the future. Facilities for cafés, foodservice and convenience shopping for people using the park will also be significantly improved.

Tim Jones, Director of Palm Logistics said:

“As a long-term institutional investor, we intend to transform Naas Enterprise Park into the premier logistics park in Ireland, reflecting best-in-class European logistics parks similar to our successful experiences in other international markets and in Greenogue Logistics Park. We look forward to working with all of the great businesses who are already in the park, while also attracting new enterprises to locate here in the years ahead.

“The overall area is very well served by the national motorway network including the M7 and national primary routes, with convenient access to all major ports nationwide. This will be appealing for international and Irish companies specialising in areas such as logistics or distribution and also for businesses seeking a convenient office location for their people. This is already evident by the excellent roster of existing businesses who are already located here.

“The future of work is based around principles of sustainability including an enhanced working environment. We’re looking forward to playing our part in the regeneration and sustainability of this very important location for business and employment, while contributing to the wider success of Kildare as a key economic hub on a regional, national and international basis.”

“We’re delighted to announce our investment for Naas Enterprise Park. We look forward to working with all stakeholders and the local authority in the interests of sustainable economic growth and development for the County and wider region.

Naas Enterprise Park comprises an entire park of over 40.47 ha (100 acres), 100 occupiers and over 139,350 sqm (1.5 million sq ft) of industrial and office accommodation. 

Darac O’Neill, Managing Director of O’Neill & Co. commented:
‘As property advisors for Naas Enterprise Park since 2016, O’Neill & Co. extends a warm welcome to new owners, Palm. We are delighted with their impressive investment plans which will significantly enhance the park’s appeal to new and existing businesses. Palm’s improvement plans will greatly benefit Naas, further strengthening its position as a leading location for Irish & international companies to do business.’