Directors at Green Property, the Dublin-based property company, are considering plans to take the group private because of the large discount to net-asset value at which its shares are trading.

Green joins a growing number of real-estate companies responding to investor apathy in property shares, which are considering selling off assets and distributing proceeds, mergers or going private.

Green Property declined to comment, saying it did not respond to market rumours. However, it is understood to have sounded out investment banks about the availability of finance to take it private.

The shares closed yesterday up 12 1/2p at 350p, valuing the company at £39 million (€50 million).

Other options under consideration by the board include a split of the company into two, dividing its English and Irish assets.

Analysts say the company suffers because its primary listing is in Dublin.