Palm Logistics, an affiliate of the pan-European real-estate private-equity firm Palm Capital, has reached practical completion of four new high-bay and light-industrial units at Momentum Logistics Park in Naas, Co Kildare.
The units, which together extend to a total area of 11,334sq m (122,000sq ft), have all been placed under offer.
This most recent phase of completion follows the letting last year of a new 8,015sq m (86,277sq ft) warehouse which Palm Logistics built for Elsatrans. The new warehouse, which was developed to an LEED Gold standard of sustainability, included 510sq m (5,500sq ft) of purpose-built office space. Elsatrans had already occupied more than 7,400sq m (80,000sq ft) across three buildings at Momentum Logistics Park prior to its agreement for its new warehouse.
Palm Logistics has also secured planning permission for a further 37,161sq m (400,000sq ft) of high-bay logistics space at the park, with several new buildings already under construction and additional phases totalling 18,581sq m (200,000sq ft) due to go for planning approval this year.
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Momentum Logistics Park is home to more than 100 businesses employing more than 2,000 people.
Known originally as Naas Enterprise Park, the scheme which sits on more than 250 acres, was acquired by Palm Capital and KKR in 2021 as part of their wider €195 million purchase of the Core industrial portfolio.
Since then, Palm Logistics has been involved in a €100 million regeneration programme aimed at transforming the park’s public realm with new and redeveloped green spaces, improved circulation routes and upgraded ESG-focused infrastructure.
The master plan for Momentum Logistics Park includes the development of more than 78,968sq m (850,000sq ft) of logistics and warehousing space across seven zoned sites, offering occupiers the opportunity to secure flexible, custom-built grade-A accommodation ranging in size from 743sq m (8,000sq ft) to 46,452sq m (500,000 sq ft). All new buildings are being developed to be EU-Taxonomy compliant and designed to achieve LEED Gold certification.
Palm Capital managing partner Reda Khatim said: “With the latest completions now delivered on schedule and strong early occupier interest, we are seeing the next generation of logistics and industrial accommodation take shape. Our ongoing investment programme, including high-specification, LEED Gold-certified buildings, new green spaces and amenities, reflects our long-term vision for Momentum Logistics Park.”
Momentum Logistics Park is being marketed by joint agents Kevin McHugh of Harvey, Garrett McClean and Stephen Mellon of CBRE, and Darac O’Neill and Stephen Keeler of O’Neill & Co.
