The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
TS Home, a branch of TS Group, safeguarded the master tenancy for Phoenix Park with the greatest of seven proposals, offering a regular monthly lease of $404,888.
The project will incorporate serviced flats and college student lodging with wellness establishments, sports amenities, eating avenues and neighborhood spaces, creating a live-work-wellness ecosystem throughout the heritage precinct. The JV partners are anticipated to take control of the spot in October, with the first phase scheduled to open in 1Q2027, states Eugene Lim, Chief Executive Officer of TAP.
TAP’s Lim claims the location at Phoenix Park shows “a possibility to redefine what community living suggests in Singapore”.
Located at 300 to 320 Tanglin Road, the 610,487 sq ft location is equal in dimension to eight soccer fields. It comprises 33 conserved colonial-era black-and-white buildings spread throughout the site, with surface area car and motorcycle parking lots.
The project notes the JV’s 3rd collaboration– having actually worked on Singapore’s initial intergenerational co-living residence at the previous Henderson Primary School, branded Commune @ Henderson, in addition to three sites under the Ministry of Wellness Holdings that were converted into purpose-built lodging for foreign medical care professionals.
The addition of Phoenix Park are going to broaden TAP’s working and pipeline portfolio, which presently comprises greater than 3,400 keys across 100 places and virtually 1,500 keys under development. The group is focus on a portfolio of 10,000 keys by 2030.
Integrated in 1949, Phoenix Park was stated a historic place by the National Heritage Board in 2012. The area in the past housed the British Far East Command and the British High Commission before working as the Ministry of Home Affairs central office from 1977 to 2001.
SGX-listed co-living operator The Assembly Place (TAP) has actually created a shared venture with TS Home to transform the historical Phoenix Park location into Singapore’s largest co-living destination, with more than 700 keys. TAP holds a 39% risk in the joint venture.
The tenancy, granted by the Singapore Land Authority (SLA), has a preliminary five-year term with a choice to renew for an additional four years. TS Group is a home-grown property developer and driver of dorms, boarding homes and massive neighborhood places.
Oh Boon Shi, supervisor and COO of TS Home, thinks the transformed Phoenix Park site will also attract local and foreign prospects looking for unique lifestyle and health experiences, as the facilities will be available to the public.
