Wee Hur Holdings has successfully acquired the One Bedford Place purpose-built student accommodation (PBSA) scheme, marking a significant expansion of its student housing platform in Hong Kong. The company disclosed in a filing with the Singapore Exchange that the acquisition was made for an undisclosed sum, which reflects its strategic intent to deepen its involvement in Hong Kong’s rapidly growing PBSA market. Glen Lim, Assistant Vice-President of Wee Hur Capital, stated, “This investment reflects our conviction in the long-term demand for student accommodation in Hong Kong.”
The acquisition details
One Bedford Place, previously under the ownership of the Bank of East Asia, encountered a change in management earlier this year after the developer Lofter Group faced financial challenges. The property is a 26-storey Grade-A commercial building located in Tai Kok Tsui, Kowloon, which is set to be transformed into a PBSA development featuring approximately 500 bedrooms. The site benefits from its proximity to the Prince Edward MTR Station and is within a 30-minute commute to several prominent universities in Hong Kong. Operations are expected to commence in the first half of 2028.
Strategic significance
Glen Lim further remarked, “One Bedford Place has the potential to become a high-quality recurring-income asset and a strategic foothold for further growth in the market.” This acquisition is particularly noteworthy as it is Wee Hur’s second PBSA investment in Hong Kong within a remarkably short period. Just days earlier, on 4 June 2026, the company announced its entry into the Hong Kong PBSA market through a deal for the Starvia by Y Suites on Fortress Hill, which comprises 246 bedrooms and is managed via a joint venture with Starvia Holdings.