Ely Property has increased its stake in the company which owns the site of a planned new 40-bed private day-care hospital.
Aldborough Development has received planning permission for the hospital on the site of Aldborough House in Dublin city centre.
Ely, a subsidiary of outsourcing services group Newcourt, has increased its shareholding in Aldborough Developments from 25% to 100%. This will cost it €4.5m, to be paid through the issue of 2.65 million new Newcourt shares.
Ely said development of the new hospital would begin shortly with completion expected in late 2008. The site is close to the Mater and Mater Private hospitals.
