An investment of €100 million is planned for the regeneration and development of Naas Enterprise Park over the next five years.
Leading specialist property investment firm Palm Logistics (Palm) has announced that it will invest significantly in a major upgrade of facilities and amenities in an initiative that will support and sustain long term economic growth and jobs creation in Kildare.
The company owns a large portfolio of industrial and logistics buildings in Ireland and acquired Naas Enterprise Park in December 2021.
The 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’s plans 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.
The sizeable investment programme is being driven by a dedicated Irish management team, supported by leading Irish architects and local property management experts.
“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.”
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.
Naas Enterprise Park comprises over 40.47 ha (100 acres), 100 occupiers and more than 139,350 sqm (1.5 million sq ft) of industrial and office accommodation.
Mr Jones noted that 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,” he said.
“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.”