Ely Property, a wholly owned subsidiary of Irish-based support services and recruitment company Newcourt Group, has said today that it plans to buy a London development company for around £17 million (€23 million).
Damianos Holdings owns a North London development site adjacent to the London Metropolitan University. The deal is dependent on the number of units granted planning permission.
Ely Property chief executive Philip Marley said there were approximately 250,000 full-time students in London and that this figure was growing by six per cent per annum.
At 9.45am Newcourt shares were trading unchanged at €0.79 on the Dublin market.