The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
The project notes the JV’s third partnership– having actually worked on Singapore’s initial intergenerational co-living residence at the former Henderson Primary School, branded Commune @ Henderson, as well as three sites under the Ministry of Health Holdings that were changed into purpose-built lodging for international health care professionals.
TS Home, a subsidiary of TS Group, secured the master occupancy for Phoenix Park with the top of seven bids, offering a regular monthly rental fee of $404,888.
SGX-listed co-living operator The Assembly Place (TAP) has actually developed a mutual venture with TS Home to transform the historical Phoenix Park site into Singapore’s largest co-living destination, with greater than 700 keys. TAP holds a 39% stake in the mutual venture.
Constructed in 1949, Phoenix Park was declared a historical site by the National Heritage Board in 2012. The area previously housed the British Far East Command and the British High Commission before acting as the Ministry of Home Affairs headquarters from 1977 to 2001.
TAP’s Lim claims the site at Phoenix Park delivers “a possibility to redefine what community living means in Singapore”.
Found at 300 to 320 Tanglin Road, the 610,487 sq ft location is equal in dimension to eight football areas. It comprises 33 conserved colonial-era black-and-white structures spread out across the site, with surface car and motorcycle parking area.
The plan will incorporate serviced houses and undergraduate lodging with health centers, sporting activities services, dining channels and community spaces, creating a live-work-wellness ecosystem throughout the heritage precinct. The JV partners are anticipated to take control of the site in October, with the initial stage scheduled to open up in 1Q2027, claims Eugene Lim, Chief Executive Officer of TAP.
The addition of Phoenix Park will broaden TAP’s working and pipeline accounts, which currently comprises greater than 3,400 keys throughout 100 areas and almost 1,500 keys under development. The group is targeting a portfolio of 10,000 keys by 2030.
Oh Boon Shi, supervisor and COO of TS Home, thinks the transformed Phoenix Park site will certainly also draw in local and international visitors looking for unique lifestyle and wellness experiences, as the centers are going to be available to the general public.
The tenancy, awarded by the Singapore Land Authority (SLA), has a first five-year term with a choice to renew for an additional 4 years. TS Group is a home-grown developer and driver of dormitories, boarding houses and massive neighborhood rooms.
