11th Jul 2007 07:00
Ely Property Group ('Ely'), a wholly-owned subsidiary of NewcourtGroup plc (LSE:NEW) (ISE:NEW), today announced that it has acquired,under its sale and leaseback model, a further 605 studentaccommodation beds. The student facility, known as the Glasshouse, islocated in Nottingham, UK. Ely is the largest provider of studentaccommodation in Ireland with a growing presence in the UK and now has1,610 student beds under management. £ Ely has acquired the Glasshouse from Derwent Living, anot-for-profit organisation providing affordable accommodation in theUK. The Glasshouse, built by JSR Properties Ltd, is one ofNottingham's most impressive student developments. The studentvillage, situated on the former Sytner and Pinewood Studios site inHuntingdon Street, is currently the largest development of its type inNottingham. The scheme provides a mix of accommodation for students,who will principally be attending Nottingham Trent University. Thefacility has 24-hour security, decked areas and state-of-the-art roomsand communal areas. Ely will manage the facility using its own UKbased operations and hospitality team. £ Paul Wisher, Derwent Living's corporate services director, said:"Ely is a highly reputable operator and we are pleased that they haveacquired the Glasshouse from Derwent Living." £ Philip Marley, Chief Executive, Ely Property Group commented "Weare delighted to announce the acquisition of over 600 student beds inNottingham. We now have 1,610 beds under management and are on trackto deliver our full year target of close to 2,000 beds in the UK andIreland." £ He added "Ely has a reputation for providing quality studentaccommodation and we are focused on continuing to grow our portfolioof best-in-class facilities with properties such as the Glasshouse." £ Ted O'Neill, Chief Executive, Newcourt Group plc, commented "Elycontinues to grow and make steady progress towards its objective tobecome a major operator of student accommodation in the UK andIreland. We look forward to further announcements of new studentaccommodation opportunities from Ely during the second half of 2007." £ 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. £ About the Glasshouse £ The Glasshouse is a best-in-class student facility, opened inSeptember 2005, which offers exceptional accommodation at the veryheart of Nottingham. All of the main city attractions are proximate -the Victoria Shopping centre directly opposite the development andNottingham Trent University's main campus is just minutes away. TheGlasshouse enjoys an unrivalled city centre location and also boaststhe added benefit of an Aldi supermarket located directly beneath thebuilding. £ The Glasshouse consists of 605 well-proportioned rooms, some ofwhich have en-suite facilities. Rooms are light and airy and featureall standard furnishings and fixtures, including single bed, wardrobeand workstation. Additionally students are supplied with usefulaccessories, such as a pin board, desk lamp and bookshelves. En-suiterooms are equipped with showers and other standard bathroomfacilities. Rooms also come equipped with fast broadband access.There's also a generous kitchen-diner and lounge in each cluster flat,fitted with standard modern appliances, sofas, kitchen table andcoffee table. £ Other services include swipe card entry, 24-hour CCTV, intercomsystem, on-site management team, bike storage and on-site laundryservices. £ A podcast of the Glasshouse is available to view onwww.fhpstudentliving.co.uk/glasshouse Copyright Business Wire 2007Related Shares:
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