The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
Built in 1949, Phoenix Park was stated a historical site by the National Heritage Board in 2012. The site formerly housed the British Far East Command and the British High Commission before acting as the Ministry of Home Affairs head office from 1977 to 2001.
Found at 300 to 320 Tanglin Road, the 610,487 sq ft area is equal in size to eight soccer areas. It comprises 33 conserved colonial-era black-and-white structures spread out across the site, with surface car and motorcycle car park.
TS Home, a branch of TS Group, safeguarded the master occupancy for Phoenix Park with the greatest of seven offers, offering an once a month rental fee of $404,888.
Oh Boon Shi, director and COO of TS Home, believes the transformed Phoenix Park site will also bring in community and foreign guests seeking unique lifestyle and wellness experiences, as the facilities are going to be accessible to the general public.
The tenancy, awarded by the Singapore Land Authority (SLA), has an initial five-year term with an option to renew for a further 4 years. TS Group is a home-grown property developer and operator of dormitories, boarding homes and massive neighborhood places.
The enhancement of Phoenix Park will expand TAP’s in service and pipeline portfolio, which presently consists of greater than 3,400 keys throughout 100 areas and virtually 1,500 keys under development. The group is targeting a portfolio of 10,000 keys by 2030.
The project notes the JV’s third alliance– having actually worked on Singapore’s initial intergenerational co-living house at the previous Henderson Primary School, branded Commune @ Henderson, as well as three sites under the Ministry of Health And Wellness Holdings that were switched into purpose-built lodging for foreign medical care specialists.
TAP’s Lim states the location at Phoenix Park presents “a possibility to redefine what community living suggests in Singapore”.
The property is going to incorporate serviced homes and undergraduate lodging with health facilities, sports facilities, eating outlets and neighborhood areas, creating a live-work-wellness ecosystem throughout the heritage precinct. The JV partners are anticipated to take over the location in October, with the first stage planned to open up in 1Q2027, says Eugene Lim, Chief Executive Officer of TAP.
SGX-listed co-living provider The Assembly Place (TAP) has actually created a shared venture with TS Home to transform the historical Phoenix Park location right into Singapore’s biggest co-living destination, with greater than 700 keys. TAP holds a 39% claim in the shared venture.
