Far East Orchard to make 4th investment in student hostel in Bristol

REAL estate company Far East Orchard has acquired a plot of land in Bristol through a joint venture (JV) with Woh Hup Holdings and Way Assets to develop a student hostel in the English city, the mainboard-listed company said in a bourse filing on Tuesday (Jun 14).

Located less than a kilometre from the new Temple Quarter Enterprise Campus of the University of Bristol, the purpose-built student accommodation at Plot 6 Silverthorne Lane will feature at least 690 beds and is expected to be fully completed in 2027.

Far East Orchard : O10 0% will have an effective 42.5 per cent interest in the development. The company’s share of the committed capital is 13.3 million pounds (S$22.5 million); it said this will be paid in cash through a combination of internal resources and external debt facilities.

This development is the company’s fourth and largest investment in Bristol. Its existing 3 properties — St Lawrence House, Harbour Court and King Square Studios — currently offer 600 beds.

Far East Orchard noted that the United Kingdom continues to rank as a top study destination, and that the UK-based Universities and Colleges Admissions Service is expecting the volume of international undergraduate applicants to go up by 46 per cent through 2026.

Alan Tan, group chief executive of Far East Orchard, said the JV expands the company’s footprint in Bristol and is aligned with its strategic focus to grow its recurring income streams.

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The group currently has a purpose-built student-accommodation portfolio in the UK, comprising more than 3,500 beds in the cities of Brighton, Bristol, Leeds, Liverpool, Newcastle-upon-Tyne and Sheffield. The new Silverthorne Lane development will be its 13th property.

Shares of Far East Orchard closed flat at S$1.09 on Tuesday.