10th Apr 2008 07:00
Newcourt Group plc ('Newcourt' or the 'Group') (LSE:NEW) (ISE:NEW), a leading,Irish based, support services group, today announced that its wholly ownedsubsidiary, Ely Property Group Limited ('Ely') has entered into an agreement toacquire a development site in Birmingham, adjacent to Birmingham University.Currently there are approximately 25,000 full time students enrolled atBirmingham University. Ely has agreed to pay approximately GBP 8.25 million (c. EUR 10.35m) for thesite, subject to satisfactory planning permission being granted. Ely will seekplanning permission for a 700 bed student accommodation development. Noconsideration is payable in the event that planning permission is not obtained. Philip Marley, Ely Property CEO, commented "This acquisition reflects ourcontinuing commitment to develop Ely's student accommodation business and toexpand our geographic presence." Philip continued, "This development, together with our Nottingham and Londondevelopments, will establish Ely as a leading supplier of student accommodationin Britian." About Newcourt Group plc Newcourt is a leading provider of support services, employing over 3,200 staffthroughout the island of Ireland. The Group has four operating divisions:Support Services, Student Accommodation, Recruitment and Aviation Outsourcing. About Ely Property Group Ely Property Group is engaged in the development and management of studentaccommodation in Ireland and the UK. \* TEly Property GroupPhilip Marley, +353 1 703 8900orK Capital SourceMark Kenny, +353 1 631 5500Jonathan Neilan, +353 1 631 [email protected]\* T Copyright Business Wire 2008Related Shares:
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