The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
Found at 300 to 320 Tanglin Road, the 610,487 sq ft location is equivalent in size to 8 soccer areas. It makes up 33 conserved colonial-era black-and-white buildings extended throughout the site, with surface area car and motorcycle parking area.
The occupancy, granted by the Singapore Land Authority (SLA), has a first five-year term with a choice to renew for a more four years. TS Group is a home-grown developer and driver of dormitories, boarding homes and massive area places.
The addition of Phoenix Park are going to increase TAP’s in service and pipeline accounts, which presently consists of greater than 3,400 keys across 100 locations and nearly 1,500 keys under development. The group is focus on an account of 10,000 keys by 2030.
The property will incorporate serviced houses and undergraduate lodging with health amenities, sporting activities features, eating channels and neighborhood areas, creating a live-work-wellness ecosystem throughout the heritage precinct. The JV partners are anticipated to take over the site in October, with the very first phase booked to open up in 1Q2027, says Eugene Lim, Chief Executive Officer of TAP.
TAP’s Lim claims the location at Phoenix Park presents “an opportunity to redefine what community living indicates in Singapore”.
SGX-listed co-living provider The Assembly Place (TAP) has actually created a shared project with TS Home to transform the historic Phoenix Park location right into Singapore’s largest co-living destination, with more than 700 keys. TAP holds a 39% risk in the joint venture.
Integrated in 1949, Phoenix Park was stated a historic site by the National Heritage Board in 2012. The area formerly housed the British Far East Command and the British High Commission before working as the Ministry of Home Affairs headquarters from 1977 to 2001.
TS Home, a branch of TS Group, secured the master tenancy for Phoenix Park with the greatest of seven offers, providing an once a month lease of $404,888.
Oh Boon Shi, supervisor and COO of TS Home, believes the transformed Phoenix Park site will certainly also attract local and overseas guests pursuing unique lifestyle and health events, as the facilities are going to be accessible to the general public.
The project marks the JV’s third collaboration– having worked on Singapore’s first intergenerational co-living house at the previous Henderson Primary School, branded Commune @ Henderson, in addition to 3 sites under the Ministry of Health And Wellness Holdings that were changed into purpose-built lodging for foreign health care specialists.
