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UK: Far East Orchard has purchased a site in Southwark, London, and is working on converting the venue into a 444-bed student accommodation.
Far East Orchard bought a freehold development site located at 325 Borough High Street in Southwark, Central London, for £60 million. The purchase was made by the company’s UK joint venture, Borough High Street Development.
In addition to student housing, it will feature communal lounges, health and wellness facilities and outdoor spaces, and is targeting a BREEAM Outstanding sustainability rating. The project will also include eight separate units for worker accommodation.
The venue is to support London’s large domestic and international student population. King’s Place is a short walk from King’s College London, the London School of Economics and Political Science, Queen Mary University of London and Imperial College London.
Construction is expected to be completed in 2029, before the start of the 2029/30 academic year.
“London remains one of the UK’s most attractive and supply-constrained student accommodation markets,” group CEO of Far East Orchard, Alan Tang said.
This marks the Far East UK Student Accommodation Development Fund’s third acquisition and first development in London.
Overall, the acquisition brings the group’s PBSA portfolio to more than 60,000 beds owned and managed.
Highlights:
- Far East Orchard has acquired a site in King’s Place, Southwark in London, and plans to convert it into a 444-bed student accommodation development, with construction expected to be completed in 2029.
- The project will also include eight separate units for worker accommodation, expanding the development beyond student housing.
- The site is located within walking distance of several major London universities, including King’s College London, the London School of Economics and Political Science, Queen Mary University of London and Imperial College London.
- The acquisition was made through Far East Orchard’s UK joint venture, Borough High Street Development, and is intended to serve London’s domestic and international student population.
- The development is the Far East UK Student Accommodation Development Fund’s third acquisition and its first student accommodation development in London.
