Far East Orchard (SGX:O10) acquired a purpose-built student accommodation site in Manchester, UK, for 10.9 million pounds sterling, according to a filing with the Singapore Exchange on Thursday.
The 275-year leasehold site will be developed into a 239-bed PBSA property which is expected to complete in 2028.
Following the acquisition of the site, the company's portfolio of existing and pipeline PBSA assets is now more than 4,900 beds.
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