Palm Logistics to invest €100m in Naas Enterprise Park

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

Predicting a “very bright future” for Naas Enterprise Park, Palm Logistics has emerged as the new owner of the park and plans to bolster this with a €100m investment.

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

“The future of work is based around principles of sustainability including an enhanced working environment”

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.

Regenerating urban logistics hubs

Three men holding an aerial photo.

From left: Shane Corby, vice-president; Tim Jones, director; and Giacomo Mastantuono, associate, Palm Logistics, pictured at Naas Enterprise Park

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 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.

“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,” said Tim Jones, director of Palm Logistics.

“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,” Jones said.

John Kennedy
Award-winning editor John Kennedy is one of Ireland's most experienced business and technology journalists.