The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
SGX-listed co-living operator The Assembly Place (TAP) has formed a joint project with TS Home to transform the historic Phoenix Park site into Singapore’s largest co-living destination, with more than 700 keys. TAP holds a 39% stake in the shared venture.
The enhancement of Phoenix Park are going to increase TAP’s in service and pipeline portfolio, which in turn currently consists of more than 3,400 keys throughout 100 areas and nearly 1,500 keys under development. The group is focus on a portfolio of 10,000 keys by 2030.
Oh Boon Shi, director and COO of TS Home, believes the transformed Phoenix Park site will also entice community and international guests looking for unique way of life and health experiences, as the facilities will be open to the general public.
Built in 1949, Phoenix Park was declared a historical site by the National Heritage Board in 2012. The area formerly housed the British Far East Command and the British High Commission prior to functioning as the Ministry of Home Affairs main office from 1977 to 2001.
Found at 300 to 320 Tanglin Roadway, the 610,487 sq ft area is equal in dimension to eight soccer fields. It comprises 33 conserved colonial-era black-and-white structures dispersed across the site, with surface area car and motorcycle parking area.
TS Home, a branch of TS Group, secured the master tenancy for Phoenix Park with the highest of 7 offers, providing an once a month lease of $404,888.
The project notes the JV’s third alliance– having actually worked on Singapore’s initial intergenerational co-living home at the previous Henderson Primary School, branded Commune @ Henderson, along with 3 sites under the Ministry of Health Holdings that were switched into purpose-built accommodation for foreign medical care specialists.
The plan will integrate serviced flats and student lodging with wellness amenities, sporting activities services, eating channels and community spaces, creating a live-work-wellness ecosystem within the heritage precinct. The JV partners are anticipated to take control of the spot in October, with the initial stage planned to open up in 1Q2027, says Eugene Lim, CEO of TAP.
TAP’s Lim claims the location at Phoenix Park shows “a chance to redefine what community living implies in Singapore”.
The occupancy, granted 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 developer and driver of dorms, boarding residences and large-scale area places.
