The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
SGX-listed co-living provider The Assembly Place (TAP) has created a shared project with TS Home to transform the historical Phoenix Park site right into Singapore’s biggest co-living destination, with greater than 700 keys. TAP holds a 39% risk in the mutual venture.
The occupancy, awarded by the Singapore Land Authority (SLA), has an initial five-year term with a choice to renew for a more four years. TS Group is a home-grown developer and operator of dorms, boarding houses and large-scale area places.
The property is going to integrate serviced houses and college student lodging with health amenities, sports facilities, eating avenues and area rooms, creating a live-work-wellness ecosystem inside the heritage precinct. The JV partners are expected to take control of the spot in October, with the very first stage planned to open in 1Q2027, states Eugene Lim, Chief Executive Officer of TAP.
The project notes the JV’s third alliance– having actually worked on Singapore’s very first intergenerational co-living residence at the former Henderson Primary School, branded Commune @ Henderson, in addition to 3 websites under the Ministry of Health And Wellness Holdings that were changed into purpose-built lodging for foreign healthcare specialists.
TAP’s Lim claims the location at Phoenix Park shows “an opportunity to redefine what community living indicates in Singapore”.
TS Home, a subsidiary of TS Group, safeguarded the master occupancy for Phoenix Park with the greatest of seven proposals, offering a regular monthly lease of $404,888.
Situated at 300 to 320 Tanglin Roadway, the 610,487 sq ft location is equal in size to eight football areas. It comprises 33 conserved colonial-era black-and-white structures extended throughout the place, with surface car and motorcycle parking area.
Oh Boon Shi, director and COO of TS Home, thinks the changed Phoenix Park site will certainly also draw in local and overseas guests seeking unique way of life and health events, as the facilities will be open to the public.
The addition of Phoenix Park will increase TAP’s operational and pipeline accounts, which in turn presently makes up greater than 3,400 keys throughout 100 areas and nearly 1,500 keys under development. The group is targeting an account of 10,000 keys by 2030.
Constructed in 1949, Phoenix Park was declared a historical site by the National Heritage Board in 2012. The area in the past housed the British Far East Command and the British High Commission prior to serving as the Ministry of Home Affairs central office from 1977 to 2001.
