7th Jun 2007 12:40
Acquires 100% interest in unique healthcare development Dublin Ireland, 7 June, 2007: Ely Property Group ('Ely'), a wholly-ownedsubsidiary of Newcourt Group plc (IEX NEW.I), today announced that it hassecured planning 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 in AldboroughDevelopments Limited, the sole owner of the Aldborough House site, from 25% to100% for a total consideration of EUR 4.5 million. Development will begin shortly with completion expected in the last quarter of2008. The development is conveniently located close to Dublin's Mater and MaterPrivate hospitals where many medical consultants are currently based. Philip Marley, Chief Executive, Ely Property Group commented "We are delightedto announce that we have secured planning permission for this facility. It is aunique asset and is the only site with full planning permission to develop aworld-class, private, day-care facility within Dublin City centre. It isuniquely located close to the Mater Private." He added "Healthcare is a national concern. We intend to address the shortfallin healthcare services by bringing world-class facilities, like AldboroughHouse, to market. Our intention to develop Aldborough also reflects strongconsultant led demand for a unique facility within Dublin City centre." He concluded "Ely has secured 100% ownership of the site together with fullplanning consent. This significantly increases the value of this asset and thereturn on our original investment. We are excited by the opportunities thatAldborough presents." Ted O'Neill, Chief Executive, Newcourt Group plc, commented "The development ofthe first private day-care hospital in Dublin City Centre will be a significantachievement for Ely. This is a compelling development opportunity for Ely and,by extension, Newcourt Group, in the healthcare sector where demand for thisservice significantly exceeds the available supply." Aldborough House Development Ely Property Group has secured full planning permission for the first privateday-care hospital in Dublin City Centre with total capacity for 40 beds. Theexisting three-storey-over-basement main house will incorporate 19 consultantsuites. The existing two-storey annexe to the south of the building willaccommodate a new physiotherapy/diagnostics unit and the existing northern wingof the main house will accommodate ancillary services and connect to a newthree-storey medical building. The new building will have operating theatres, pre-op and post-op facilities,staff facilities, a cafe, pharmacy and associated service facilities. Theexisting single storey coach house will be converted into a ''minor injuriesunit'' and will be connected to the main medical building via a single storeyglazed link. Images of the proposed development are set out below. About Ely Property Group Ely Property Group is engaged in the development andmanagement of student accommodation in Ireland and the UK. About Newcourt Group plc Newcourt is a leading provider of support services,employing over 2,700 staff throughout the island of Ireland. The Group has twoprimary operating divisions: Support Services & Student Accommodation andRecruitment & Aviation Outsourcing. Contacts \* TPhilip Marley Mark Kenny/Jonathan Neilan Ely Property Group K Capital Source Tel: +353 1 703 8912 Tel: +353 1 631 5500Email: [email protected] Email: Newcourt@kcapitalsource.com-------------------------------------- --------------------------------------\* T Copyright Business Wire 2007Related Shares:
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