:
UK/Singapore: Far East Orchard has completed the second stage of the phase acquisition of Homes For Students (HFS), a student accommodation provider in the UK, raising its interest to 84 per cent.
Far East Orchard first announced the acquisition of a 49 per cent stake in HFS in April 2024, for £17.6 million. It acquired the 49 per cent stake from two non-management sellers.
The group completed the first stage of the phased acquisition, acquiring about 35 per cent of the stake in HFS for £25 million.. With its current stake at 84 per cent, HFS becomes a subsidiary of Far East Orchard.
Harrogate-based HFS operates more than 55,000 beds in more than 55 university towns and cities in the UK and Ireland, providing an integrated student accommodation management and facilities management service. It also owns the VervLife and recently launched Orla Living third-party management companies.
Far East Orchard plans to acquire the remaining stake in HFS by November 2030.
Highlights:
• Far East Orchard has completed the second stage of the phase acquisition of Homes For Students (HFS), a student accommodation provider in the UK, raising its interest to 84 per cent
• Harrogate-based HFS operates more than 55,000 beds in more than 55 university towns and cities in the UK and Ireland, providing an integrated student accommodation management and facilities management service
• It also owns the VervLife and recently-launched Orla Living third-party management companies
• Far East Orchard plans to acquire the remaining stake in HFS by November 2030.
