The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
The project will integrate serviced houses and student accommodation with wellness establishments, sporting activities features, eating avenues and community spaces, creating a live-work-wellness ecosystem within the heritage precinct. The JV partners are anticipated to take over the site in October, with the initial phase planned to open up in 1Q2027, says Eugene Lim, CEO of TAP.
Oh Boon Shi, supervisor and COO of TS Home, believes the changed Phoenix Park site will also entice community and foreign guests seeking unique way of living and health events, as the facilities are going to be accessible to the public.
The tenancy, granted by the Singapore Land Authority (SLA), has an initial five-year term with an option to renew for a more four years. TS Group is a home-grown property developer and operator of dorm rooms, boarding homes and large community rooms.
Located at 300 to 320 Tanglin Road, the 610,487 sq ft site is equivalent in dimension to 8 soccer fields. It makes up 33 conserved colonial-era black-and-white structures spread out across the place, with surface car and motorcycle car park.
Constructed in 1949, Phoenix Park was stated a historic place by the National Heritage Board in 2012. The spot previously housed the British Far East Command and the British High Commission before serving as the Ministry of Home Affairs head office from 1977 to 2001.
The project marks the JV’s 3rd partnership– having actually worked on Singapore’s first intergenerational co-living house at the previous Henderson Primary School, branded Commune @ Henderson, in addition to 3 websites under the Ministry of Health And Wellness Holdings that were changed into purpose-built accommodation for international health care specialists.
SGX-listed co-living operator The Assembly Place (TAP) has actually developed a joint venture 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% claim in the mutual venture.
The addition of Phoenix Park are going to expand TAP’s working and pipeline portfolio, which in turn currently comprises greater than 3,400 keys across 100 places and virtually 1,500 keys under development. The group is targeting a portfolio of 10,000 keys by 2030.
TAP’s Lim says the location at Phoenix Park presents “an opportunity to redefine what community living suggests in Singapore”.
TS Home, a subsidiary of TS Group, protected the master occupancy for Phoenix Park with the top of seven proposals, providing a monthly rental fee of $404,888.
