The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
The property is going to integrate serviced homes and undergraduate accommodation with wellness facilities, sports amenities, dining outlets and community areas, creating a live-work-wellness ecosystem throughout the heritage precinct. The JV partners are expected to take control of the site in October, with the first phase scheduled to open in 1Q2027, states Eugene Lim, Chief Executive Officer of TAP.
Oh Boon Shi, director and COO of TS Home, thinks the transformed Phoenix Park site will also attract local and overseas guests seeking unique way of life and wellness experiences, as the facilities are going to be available to the general public.
The project notes the JV’s third partnership– having worked on Singapore’s very first intergenerational co-living house at the former Henderson Primary School, branded Commune @ Henderson, along with three sites under the Ministry of Wellness Holdings that were switched into purpose-built holiday accommodation for foreign health care professionals.
The enhancement of Phoenix Park will expand TAP’s operational and pipeline accounts, which currently comprises more than 3,400 keys across 100 areas and nearly 1,500 keys under development. The group is focus on an account of 10,000 keys by 2030.
Situated at 300 to 320 Tanglin Roadway, the 610,487 sq ft site is equal in dimension to 8 football fields. It comprises 33 conserved colonial-era black-and-white buildings spread throughout the place, with surface area car and motorcycle parking lots.
SGX-listed co-living provider The Assembly Place (TAP) has actually formed a joint venture with TS Home to transform the historic Phoenix Park site right into Singapore’s biggest co-living destination, with more than 700 keys. TAP holds a 39% risk in the joint venture.
Constructed in 1949, Phoenix Park was stated a historic spot by the National Heritage Board in 2012. The site previously housed the British Far East Command and the British High Commission prior to serving as the Ministry of Home Affairs headquarters from 1977 to 2001.
TS Home, a subsidiary of TS Group, secured the master tenancy for Phoenix Park with the greatest of 7 bids, offering an once a month lease of $404,888.
The tenancy, granted by the Singapore Land Authority (SLA), has a preliminary five-year term with a choice to renew for a further 4 years. TS Group is a home-grown property developer and operator of dorms, boarding houses and large-scale area rooms.
TAP’s Lim claims the site at Phoenix Park shows “an opportunity to redefine what community living implies in Singapore”.
