7th Jun 2007 12:44
Ely Property Group ('Ely'), a wholly-owned subsidiary of NewcourtGroup plc (LSE:NEW) (ISE:NEW), today announced that it has securedplanning permission for a 40 bed private day-care hospital on the siteof Aldborough House, Dublin 1. £ Ely also announces that is has increased its shareholding inAldborough Developments Limited, the sole owner of the AldboroughHouse site, from 25% to 100% for a total consideration of EUR 4.5million. £ Development will begin shortly with completion expected in thelast quarter of 2008. The development is conveniently located close toDublin's Mater and Mater Private hospitals where many medicalconsultants are currently based. £ Philip Marley, Chief Executive, Ely Property Group commented "Weare delighted to announce that we have secured planning permission forthis facility. It is a unique asset and is the only site with fullplanning permission to develop a world-class, private, day-carefacility within Dublin City centre. It is uniquely located close tothe Mater Private." £ He added "Healthcare is a national concern. We intend to addressthe shortfall in healthcare services by bringing world-classfacilities, like Aldborough House, to market. Our intention to developAldborough also reflects strong consultant led demand for a uniquefacility within Dublin City centre." £ He concluded "Ely has secured 100% ownership of the site togetherwith full planning consent. This significantly increases the value ofthis asset and the return on our original investment. We are excitedby the opportunities that Aldborough presents." £ Ted O'Neill, Chief Executive, Newcourt Group plc, commented "Thedevelopment of the first private day-care hospital in Dublin CityCentre will be a significant achievement for Ely. This is a compellingdevelopment opportunity for Ely and, by extension, Newcourt Group, inthe healthcare sector where demand for this service significantlyexceeds the available supply." £ Aldborough House Development £ Ely Property Group has secured full planning permission for thefirst private day-care hospital in Dublin City Centre with totalcapacity for 40 beds. The existing three-storey-over-basement mainhouse will incorporate 19 consultant suites. The existing two-storeyannexe to the south of the building will accommodate a newphysiotherapy/diagnostics unit and the existing northern wing of themain house will accommodate ancillary services and connect to a newthree-storey medical building. £ The new building will have operating theatres, pre-op and post-opfacilities, staff facilities, a cafe, pharmacy and associated servicefacilities. The existing single storey coach house will be convertedinto a ''minor injuries unit'' and will be connected to the mainmedical building via a single storey glazed link. Images of theproposed development are set out below. £ About Ely Property Group £ Ely Property Group is engaged in the development and management ofstudent accommodation in Ireland and the UK. £ About Newcourt Group plc £ Newcourt is a leading provider of support services, employing over2,700 staff throughout the island of Ireland. The Group has twoprimary operating divisions: Support Services & Student Accommodationand Recruitment & Aviation Outsourcing. Copyright Business Wire 2007Related Shares:
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