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 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 international health care specialists.
Found at 300 to 320 Tanglin Roadway, the 610,487 sq ft site is equal in dimension to 8 soccer fields. It consists of 33 conserved colonial-era black-and-white buildings extended across the place, with surface car and motorcycle car park.
TAP’s Lim says the site at Phoenix Park presents “a possibility to redefine what community living indicates in Singapore”.
The occupancy, awarded by the Singapore Land Authority (SLA), has a preliminary five-year term with a choice to renew for a more 4 years. TS Group is a home-grown property developer and operator of dorms, boarding residences and massive neighborhood rooms.
Sora Condo Chip Eng Seng, Singhaiyi Group & KSH Holdings
The enhancement of Phoenix Park will broaden TAP’s working and pipeline portfolio, which in turn currently comprises greater than 3,400 keys across 100 locations and virtually 1,500 keys under development. The group is targeting a portfolio of 10,000 keys by 2030.
TS Home, a branch of TS Group, secured the master occupancy for Phoenix Park with the greatest of seven proposals, providing a regular monthly rent of $404,888.
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 greater than 700 keys. TAP holds a 39% stake in the joint venture.
Built in 1949, Phoenix Park was declared a historic site by the National Heritage Board in 2012. The spot previously 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 will integrate serviced flats and college student lodging with health establishments, sports facilities, eating outlets and neighborhood areas, creating a live-work-wellness ecosystem throughout the heritage precinct. The JV partners are anticipated to take control of the location in October, with the initial phase scheduled to open up in 1Q2027, states Eugene Lim, Chief Executive Officer of TAP.
Oh Boon Shi, director and COO of TS Home, thinks the changed Phoenix Park site will certainly also attract community and overseas visitors looking for unique way of living and health events, as the facilities are going to be open to the general public.
