The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
The project notes the JV’s 3rd alliance– having actually worked on Singapore’s initial intergenerational co-living residence at the former Henderson Primary School, branded Commune @ Henderson, as well as 3 websites under the Ministry of Health And Wellness Holdings that were converted into purpose-built accommodation for international health care professionals.
TS Home, a branch of TS Group, safeguarded the master tenancy for Phoenix Park with the greatest of seven offers, providing a monthly lease of $404,888.
The property is going to incorporate serviced flats and student accommodation with wellness amenities, sports facilities, dining outlets and area areas, creating a live-work-wellness ecosystem within the heritage precinct. The JV partners are expected to take over the site in October, with the initial phase booked to open in 1Q2027, states Eugene Lim, CEO of TAP.
The tenancy, granted by the Singapore Land Authority (SLA), has an initial five-year term with an option to renew for an additional four years. TS Group is a home-grown developer and driver of dorm rooms, boarding homes and large neighborhood rooms.
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 into Singapore’s biggest co-living destination, with more than 700 keys. TAP holds a 39% risk in the mutual venture.
Oh Boon Shi, supervisor and COO of TS Home, believes the transformed Phoenix Park site will certainly also bring in community and international prospects pursuing unique lifestyle and wellness experiences, as the facilities will be accessible to the general public.
Built in 1949, Phoenix Park was stated 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.
Found at 300 to 320 Tanglin Road, the 610,487 sq ft area is equal in dimension to eight soccer areas. It consists of 33 conserved colonial-era black-and-white buildings spread out across the site, with surface car and motorcycle parking lots.
TAP’s Lim says the site at Phoenix Park delivers “an opportunity to redefine what community living means in Singapore”.
The addition of Phoenix Park are going to expand TAP’s operational and pipeline accounts, which in turn currently comprises more than 3,400 keys throughout 100 places and nearly 1,500 keys under development. The group is focus on an account of 10,000 keys by 2030.
