PBSA Supply to Exceed 700k Beds
5th Jun 2020
Far East Orchard now controls a portfolio with 2,091 purpose-built student accommodation beds, across eight assets in the UK.
Commenting on the purchase, Group Chief Executive, Lui Chong Chee, said: "Since our entry into the UK student accommodation sector in 2015 via the acquisition of a portfolio of properties and land sites for development in Newcastle upon Tyne, we have expanded into three other cities - Brighton, Bristol and Liverpool."
"Our latest acquisition of three stabilised properties in established UK university cities is part of our strategy to enlarge our recurring income base, thereby reinforcing the Group's resilience."
"We are confident of the long-term fundamentals of the UK student accommodation market and remain on the lookout for opportunities to grow our student accommodation portfolio. In line with our strategy to grow our recurring income base, we remain on target to grow our student accommodation portfolio to 3,000 beds by 2023."
5th Jun 2020
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