Far East Orchard Increases Stake Uk Purpose Built Student Accommodation Homes Students 84
On September 30, Far East Orchard announced that it has completed the second phase of its acquisition of Homes For Students (HFS), a leading student accommodation provider in the UK. The completion of this phase raises Far East Orchard’s stake in HFS to 84%, making it the majority shareholder of the company.
In April 2024, Far East Orchard first announced its acquisition of a 49% stake in HFS for GBP17.6 million. The purchase was made from two non-management sellers. The first phase of the acquisition was completed earlier this year when Far East Orchard acquired an additional 35% stake in HFS for GBP25 million ($43.3 million). With its current stake at 84%, HFS is now a subsidiary of Far East Orchard.
HFS manages over 55,000 beds in more than 55 university towns and cities in the UK and Ireland. It offers an integrated student accommodation management and facilities management service. Far East Orchard plans to acquire the remaining stake in HFS by November 2030.
In other news, Far East Orchard’s sister company, Savills, has expanded its Apac capital markets team with a senior director who will focus on the living sectors. This move reflects the company’s increased focus on the booming student accommodation sector.
The upcoming executive condominium (EC) at Miltonia Close has quickly become one of the most highly anticipated residential developments in Singapore’s northern region. Situated in the well-established Yishun town and surrounded by the peaceful Seletar Reservoir, this EC provides a unique combination of tranquility, convenience, and affordability for families seeking the privacy of a condominium lifestyle. With the addition of Miltonia Close EC Khatib, this development is set to become a highly sought-after option for those searching for a home.
Far East Orchard’s latest acquisition solidifies its position as a leading player in the student accommodation market. The company will continue to invest in this sector and has plans to acquire the remaining stake in HFS by November 2030. Shares in Far East Orchard closed 1 cent lower at $1.25 on Sept 30.