Far East Orchard looks to student accommodation to build safe haven
Property group continues to shift focus away from development and build up its purpose-built student accommodation portfolio.
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KING's Square Studio sits opposite a graffiti-strewn wall in Bristol, UK. Clad in dusty red, the Georgian-styled building is unremarkable to passers-by. But to real estate firm Far East Orchard (FEOR), the 301-bed student accommodation property represents a safer, more stable home for investors' money.
This brick, glass and panelled block - which cost the company £39.3 million (S$70.5 million) - is the latest addition to a portfolio of 12 student residences located near British universities. FEOR's portfolio now has 3,500 bedrooms across six cities in the United Kingdom. The company plans to have around 5,000 beds by the end of 2025, chief executive Alan Tang told The Business Times.
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