Real estate private equity giant Palm Capital has signed a pre-let agreement with Irish transport and logistics operator, Elsatrans, for a new 7,900sq m (85,000sq ft) high-bay warehouse at Momentum Logistics Park in Kildare.
The new warehouse, which is being built to a LEED Gold standard of sustainability, will also include 510sq m (5,500sq ft) of purpose-built office space. Elsatrans already occupies more than 7,400sq m (80,000sq ft) across three buildings at Momentum Logistics Park. Its new facility is scheduled for practical completion in the final quarter of this year.
Separately, Palm Capital has also recently been granted planning permission from Kildare County Council for an additional 28,300sq m (305,000sq ft) of space at Momentum Logistics Park. This will be distributed across five high-bay logistics units ranging in size from 3,340sq m (36,000sq ft) to 7,400sq m (80,000sq ft) and two 1,100sq m (12,000sq ft) light-industrial units.
The new buildings will target LEED Gold certification and incorporate photovoltaic panels, electric-vehicle chargers and highly efficient heating and ventilation systems. Construction will begin this month with completion scheduled for May 2025.
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The park has capacity for a further 53,400sq m (575,000sq ft) of high-bay logistics units ranging in size from 2,300sq m (25,000sq ft) up to 46,450sq m (500,000sq ft). This additional capacity will form the basis of the next phase of development.
Palm Capital is also working to improve the public realm at the Kildare scheme and has appointed the Breffni Group to upgrade roads, footpaths, signage and cycle lanes. A new all-weather pitch will also be provided at the park, along with two outdoor gyms and additional amenity areas and walkways.
Commenting on the latest developments at the scheme, Reda Khatim, managing partner of Palm Capital, said: “The building pre-let to Elsatrans will be the first of a series of developments that when complete will total more than 74,300sq m (800,000sq ft). Coinciding with this will be a complete refurbishment and upgrade of the common areas within the park which will provide amenities which will rival any logistics park in Ireland or across Europe.”
Momentum Logistics Park is being marketed by Garrett McClean and Stephen Mellon of CBRE and Darac O’Neill and Stephen Keeler of O’Neill & Co. They said: “The buildings planned for Momentum Logistics Park boast the highest sustainability credentials and large yard areas, with the proposed unit mixes appealing to a wide range of occupiers.”
