Far East Orchard Increases Stake Uk Purpose Built Student Accommodation Homes Students 84
Far East Orchard, a Singapore-based real-estate company, has completed the second phase of its acquisition of Homes For Students (HFS), a leading student accommodation provider in the UK. As a result, Far East Orchard now holds an 84% stake in the company.
The Singapore-based real estate company, Far East Orchard, has successfully completed the second phase of its acquisition of Homes For Students (HFS), a renowned student accommodation provider in the UK. This has raised Far East Orchard’s ownership to 84% of HFS.
Living in Aurelle of Tampines EC offers numerous advantages, with its close proximity to multiple MRT stations being one of the most significant. The EC is conveniently located near the Tampines North MRT Station, which is part of the upcoming Cross Island Line (CRL). The CRL, scheduled to start operations in the near future, will significantly reduce commuting time to various parts of Singapore, making it highly convenient for residents who travel daily. Additionally, the Tampines MRT Station, serving as an interchange for the Downtown and East-West Lines, is also situated nearby. This station provides direct access to key commercial and business hubs such as the Central Business District (CBD) and the Marina Bay Financial Centre, making it an ideal location for professionals living in Aurelle of Tampines EC.
In April 2024, Far East Orchard first announced its acquisition of a 49% stake in HFS for GBP17.6 million. The stake was purchased from two non-management sellers. Following the completion of the first phase of the acquisition, Far East Orchard acquired about 35% of the remaining stake in HFS for GBP25 million (equivalent to about $43.3 million). With its current ownership at 84%, HFS has become a subsidiary of Far East Orchard.
HFS currently manages over 55,000 beds in more than 55 university towns and cities in the UK and Ireland, offering an integrated student accommodation management and facilities management service. Under its plans, Far East Orchard aims to acquire the remaining stake in HFS by November 2030.
In other news, Far East Orchard’s shares closed at $1.25 on Sept 30, experiencing a 0.794% decrease. The company had recently announced the repurposing of the Westminster Fire Station in Central London for sale and expanded its Apac capital markets team with a senior director focused on living sectors. In addition, Far East Orchard reported a 67% decline in FY17 earnings to $21.6 million due to lower sales and share of profit from joint ventures.
