Former New Generation is to shelve sale of €325m property book

Multibillion fund has halted its Project Firefly sale

Richard Barrett’s Bartra Capital was reported to be among the bidders

Marlet, the multibillion fund -backed developer formerly known as New Generation, has halted its Project Firefly property book sale.

A source said the process had ended without a significant sale.

The developer, in which British fund giant M&G is an investor, had been attempting to sell the portfolio of 27 residential development sites, with capacity for up to 3,000 homes. However, it could not attain bids at its target price range of €325 ...