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Article: Newcourt weighs Ely Property sale; Schools out: Newcourts student accommodation unit may be sold.
- Article from:
- Daily Mail (London)
- Article date:
- December 23, 2008
CopyrightCOPYRIGHT 2008 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Joe Downes
SHARES in Dublin and London-listed property service group Newcourt bounced by 25pc during trading yesterday after confirmation that it is in talks over the sale of its subsidiary, Ely Property.
Newcourt Group said yesterday it is in discussions to sell its buy-to-let and student accommodation subsidiary to a consortium of investors led by Elys founder and Dublin property entrepreneur, Philip Marley.
Mr Marley, who floated the company in 2005, is a director of Newcourt following the sale of the business in 2006 for around E30m.
Ely owns a number of residential blocks across Ireland and Britain, including at Gunwharf Quays in Portsmouth in ...