Press Release

Deacons is pleased to announce that our Banking & Finance team has successfully advised Singapore-listed developer Wee Hur Holdings ("WHH") in connection with its financing to acquire One Bedford Place, a 26-storey Grade A commercial building in Tai Kok Tsui, Kowloon, which is planned to be redeveloped and converted into a 500-bed purpose-built student accommodation (PBSA).

This strategic acquisition marks WHH’s second student accommodation investment in Hong Kong, following the recent launch of Starvia by Y Suites at 151 King’s Road in Fortress Hill, which was secured under a master lease arrangement to deliver 246 beds to the market. Building on that initial footprint, this latest asset acquisition highlights WHH's timely and broader entry into Hong Kong’s rapidly expanding student housing sector. The project also addresses a supply shortage of PBSA housing at a time when non-local student enrolments are surging, positioning this redevelopment to meet a vital infrastructural need and further strengthening the city’s position as a leading global hub for higher education.

By working closely with WHH on this particular financing, the team successfully supported and facilitated WHH's strategic growth and expansion into the Hong Kong student accommodation market. The transaction also demonstrates our firm’s ability to seamlessly advise developers and financial institutions on complex financing matters relating to property acquisition and the rapidly growing PBSA sector.

The transaction was led by Michael Sinn (Partner) and Crystal Li (Partner), with key assistance from Hui Ling Yuen (Associate) and Athena Lo (Associate).