Far East Orchard unit targets London students with $102m site deal

The site will be turned into a 444-bed student accommodation project.

Far East Orchard's subsidiary, Borough High Street Development Limited, has entered into a sale and purchase agreement to acquire a site at 325 Borough High Street, Southwark, London, for $102m (£60m).

The site, known as King's Place, will be developed into a 444-bed purpose-built student accommodation project with a separate eight-unit key worker accommodation block.

This is the company’s first development in London and the third under the FE UK Student Accommodation Development (FESAD) Fund.

The development is expected to be managed by Homes for Students, a Far East Orchard subsidiary, upon practical completion.

Southwark Council granted planning permission in February 2024, and Gateway 2 approval, which allows construction to begin, was granted in July 2026.

There is an ongoing court proceeding between the seller, LDC (Portfolio) Limited, and a third party over an alleged rights-of-light infringement tied to the proposed development, filed by the owner of an adjacent property in the High Court of Justice of England and Wales.

However, the group does not expect the proceeding to have a material impact.

Completion is targeted for 2029, ahead of the 2029 to 2030 academic year.

($1=£0.69)

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