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 actually developed a joint venture with TS Home to transform the historical Phoenix Park location right into Singapore’s biggest co-living destination, with more than 700 keys. TAP holds a 39% claim in the mutual venture.
Oh Boon Shi, supervisor and COO of TS Home, believes the transformed Phoenix Park site will also attract community and foreign prospects looking for unique way of living and health experiences, as the facilities will be available to the general public.
Situated at 300 to 320 Tanglin Road, the 610,487 sq ft location is equivalent in size to eight soccer areas. It comprises 33 conserved colonial-era black-and-white structures dispersed throughout the place, with surface area car and motorcycle parking area.
The addition of Phoenix Park are going to expand TAP’s in service and pipeline accounts, which in turn currently consists of more than 3,400 keys across 100 places and nearly 1,500 keys under development. The group is targeting a portfolio of 10,000 keys by 2030.
The occupancy, granted by the Singapore Land Authority (SLA), has a preliminary five-year term with an option to renew for a more 4 years. TS Group is a home-grown developer and driver of dorms, boarding residences and large neighborhood rooms.
TS Home, a branch of TS Group, protected the master tenancy for Phoenix Park with the best of seven bids, providing a monthly rent of $404,888.
The project is going to incorporate serviced apartments and undergraduate lodging with health amenities, sports amenities, dining outlets and area rooms, creating a live-work-wellness ecosystem within the heritage precinct. The JV partners are anticipated to take over the location in October, with the first phase scheduled to open in 1Q2027, states Eugene Lim, Chief Executive Officer of TAP.
Integrated in 1949, Phoenix Park was stated a historic site by the National Heritage Board in 2012. The spot formerly housed the British Far East Command and the British High Commission prior to acting as the Ministry of Home Affairs main office from 1977 to 2001.
The project notes the JV’s third collaboration– having actually worked on Singapore’s initial intergenerational co-living house at the previous Henderson Primary School, branded Commune @ Henderson, in addition to 3 websites under the Ministry of Health And Wellness Holdings that were converted into purpose-built accommodation for foreign medical care professionals.
TAP’s Lim says the location at Phoenix Park delivers “a chance to redefine what community living suggests in Singapore”.
