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 developed a mutual venture with TS Home to transform the historic Phoenix Park location into Singapore’s biggest co-living destination, with greater than 700 keys. TAP holds a 39% stake in the joint venture.
Oh Boon Shi, supervisor and COO of TS Home, thinks the transformed Phoenix Park site will certainly also draw in local and overseas guests looking for unique way of living and health events, as the facilities are going to be accessible to the public.
The project marks the JV’s 3rd alliance– having actually worked on Singapore’s initial intergenerational co-living house at the previous Henderson Primary School, branded Commune @ Henderson, in addition to three sites under the Ministry of Health Holdings that were switched into purpose-built lodging for foreign health care specialists.
Built in 1949, Phoenix Park was stated a historic place by the National Heritage Board in 2012. The site formerly housed the British Far East Command and the British High Commission before acting as the Ministry of Home Affairs central office from 1977 to 2001.
TAP’s Lim states the site at Phoenix Park delivers “a possibility to redefine what community living suggests in Singapore”.
The project is going to incorporate serviced apartments and college student lodging with wellness amenities, sports amenities, eating channels and community rooms, creating a live-work-wellness ecosystem throughout the heritage precinct. The JV partners are anticipated to take over the location in October, with the first phase scheduled to open up in 1Q2027, states Eugene Lim, CEO of TAP.
TS Home, a subsidiary of TS Group, protected the master occupancy for Phoenix Park with the greatest of seven proposals, offering a regular monthly lease of $404,888.
The occupancy, awarded by the Singapore Land Authority (SLA), has a preliminary five-year term with an option to renew for a further four years. TS Group is a home-grown property developer and operator of dorm rooms, boarding homes and massive community rooms.
The addition of Phoenix Park will expand TAP’s operational and pipeline portfolio, which presently comprises greater than 3,400 keys throughout 100 places and almost 1,500 keys under development. The group is focus on an account of 10,000 keys by 2030.
Located at 300 to 320 Tanglin Roadway, the 610,487 sq ft location is equivalent in size to 8 soccer areas. It consists of 33 conserved colonial-era black-and-white buildings extended across the place, with surface area car and motorcycle car park.
