Far East Orchard Expands UK Student Accommodation Portfolio with £38.9 Million Glasgow Development Joint Venture
Far East Orchard, a Singapore-listed investment unit, is making waves in the UK student accommodation market with a £38.9 million development joint venture in Glasgow, Scotland. This new project, set to be completed in 2026, will add 273 beds to the city’s student housing stock in the Merchant City area, southeast of Glasgow city centre.
The move signals Far East Orchard’s continued expansion in the UK, aiming to address the shortage of purpose-built student accommodation (PBSA) in Glasgow. The city boasts a top 100 university and a significant imbalance between student numbers and available beds, making it a prime target for investment.
With the acquisition of the development site from Nova Osbourne, Far East Orchard and partner Woh Hup Holdings are set to inject much-needed university housing into Glasgow, where rental rates for student accommodation have surged by 19.4 percent amid a lack of new projects opening during the latest academic year.
This latest venture follows Far East Orchard’s successful collaboration with Way Assets in a £26.6 million PBSA project in Bristol, England, scheduled for completion in 2026. Together, these projects will add around 1,000 beds to Far East Orchard’s UK student housing portfolio, bringing the total to 4,700 beds across 15 locations.
The company’s strategic focus on the PBSA sector has proven profitable, with a triple increase in profit attributable to equity holders in 2023 compared to the previous year. Revenue from its UK PBSA business saw a 14 percent rise, driven by higher rents and high occupancy rates across its portfolio.
Alan Tang, CEO of Far East Orchard, expressed optimism about the company’s growth prospects, citing the strong demand for UK higher education and the recovering international travel sector. As the firm continues to expand its presence in key UK cities, it aims to build a solid lodging platform for sustainable and recurring income in the future.
