New World Oil And Gas Regulatory News (NEW)

11 Jul 2007 07:00

Ely Property Group acquires 605 student accommodation beds Increases beds under management to 1,610 Ely Property Group ('Ely'), a wholly-owned subsidiary of Newcourt Group plc(LSE:NEW) (ISE:NEW), today announced that it has acquired, under its sale andleaseback model, a further 605 student accommodation beds. The student facility,known as the Glasshouse, is located in Nottingham, UK. Ely is the largestprovider of student accommodation in Ireland with a growing presence in the UKand now has 1,610 student beds under management. Ely has acquired the Glasshouse from Derwent Living, a not-for-profitorganisation providing affordable accommodation in the UK. The Glasshouse, builtby JSR Properties Ltd, is one of Nottingham's most impressive studentdevelopments. The student village, situated on the former Sytner and PinewoodStudios site in Huntingdon Street, is currently the largest development of itstype in Nottingham. The scheme provides a mix of accommodation for students, whowill principally be attending Nottingham Trent University. The facility has24-hour security, decked areas and state-of-the-art rooms and communal areas.Ely will manage the facility using its own UK based operations and hospitalityteam. Paul Wisher, Derwent Living's corporate services director, said: "Ely is ahighly reputable operator and we are pleased that they have acquired theGlasshouse from Derwent Living." Philip Marley, Chief Executive, Ely Property Group commented "We are delightedto announce the acquisition of over 600 student beds in Nottingham. We now have1,610 beds under management and are on track to deliver our full year target ofclose to 2,000 beds in the UK and Ireland." He added "Ely has a reputation for providing quality student accommodation andwe are focused on continuing to grow our portfolio of best-in-class facilitieswith properties such as the Glasshouse." Ted O'Neill, Chief Executive, Newcourt Group plc, commented "Ely continues togrow and make steady progress towards its objective to become a major operatorof student accommodation in the UK and Ireland. We look forward to furtherannouncements of new student accommodation opportunities from Ely during thesecond half of 2007." About Ely Property Group Ely Property Group is engaged in the development and management of studentaccommodation in Ireland and the UK. About Newcourt Group plc Newcourt is a leading provider of support services, employing over 2,700 staffthroughout the island of Ireland. The Group has two primary operating divisions:Support Services & Student Accommodation and Recruitment & Aviation Outsourcing. Contacts \* TPhilip Marley Mark Kenny/Jonathan NeilanEly Property Group K Capital SourceTel: +353 1 703 8912 Tel: +353 1 631 5500Email: Email: Newcourt@kcapitalsource.comphilipmarley@elyproperty.ie-------------------------------------- --------------------------------------\* T About the Glasshouse The Glasshouse is a best-in-class student facility, opened in September 2005,which offers exceptional accommodation at the very heart of Nottingham. All ofthe main city attractions are proximate - the Victoria Shopping centre directlyopposite the development and Nottingham Trent University's main campus is justminutes away. The Glasshouse enjoys an unrivalled city centre location and alsoboasts the added benefit of an Aldi supermarket located directly beneath thebuilding. The Glasshouse consists of 605 well-proportioned rooms, some of which haveen-suite facilities. Rooms are light and airy and feature all standardfurnishings and fixtures, including single bed, wardrobe and workstation.Additionally students are supplied with useful accessories, such as a pin board,desk lamp and bookshelves. En-suite rooms are equipped with showers and otherstandard bathroom facilities. Rooms also come equipped with fast broadbandaccess. There's also a generous kitchen-diner and lounge in each cluster flat,fitted with standard modern appliances, sofas, kitchen table and coffee table. Other services include swipe card entry, 24-hour CCTV, intercom system, on-sitemanagement team, bike storage and on-site laundry services. A podcast of the Glasshouse is available to view onwww.fhpstudentliving.co.uk/glasshouse Copyright Business Wire 2007