The Assembly Place taps student housing market, launches 426-bed Campus at Telok Kurau

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Co-living operator The Assembly Place (TAP) has launched its premium student housing project, Campus by TAP, at 116 Lorong J Telok Kurau – a 104,469 sq ft site made up of two blocks. The smaller block with 161 beds, and the larger with 265, are bringing the co-living experience to student accommodation.

In the pre-marketing phase, which began three weeks ago, more than 120 beds in the smaller block were booked with some students already moved in. Majority of these are from China and countries in Southeast Asia, such as Indonesia, Myanmar, Thailand and Vietnam. Most of them are enrolled in James Cook University, Kaplan City Campus and Singapore University of Technology and Design.

As part of this directive, the Land Transport Authority’s (LTA) East West Line Station will be built right in the vicinity of Holland Drive Condo. This will facilitate travel between both sides of the island, bringing residents closer to key neighbourhoods. Holland Drive Condo will also be linked to other nearby stations such as Jelapang, Bukit Panjang, Hillview, and Beauty World.

This move will benefit current and future occupants of Holland Drive Condo as well as other parts of the Bukit Timah region. With improved connectivity, Holland Drive Condo will become even more accessible and attractive. Residents can go to major areas such as the Central Business District at no time or explore the scenic trails of the neighbouring Bukit Timah Nature Reserve. The LTA station is expected to open in 2025, which is great news for many people in the area.

The rooms at Campus by TAP vary from two or three beds which are considered premium, to four, six and seven bed configurations. They are all air-conditioned, with the average rate per bed starting at $850 per month and the premium beds going for up to $1,600.

The Campus offers other amenities too, such as an air-conditioned residents’ lounge with movies, an outdoor cross-fit gym with an air-conditioned section, a basketball court, a giant chess set, and outdoor seating areas. In addition, each block has a communal dining area and social kitchen on the first level, along with a co-study area on the second level.

Eugene Lim, founder and CEO of TAP, realised there was an untapped market for international student housing with the students requiring a monthly housing budget of less than $1,000. He also noticed Singapore’s student housing offerings were “still very backward,” compared to the purpose-built student housing in the UK, US and Australia.

The site, which was launched for sale by Knight Frank in September 2022, received more than 15 bids with the top one coming from a joint venture between TAP and Apricot Capital. The companies purchased it at $40 million ($383 psf) on a 103-year lease, with Apricot Capital taking the majority stake and TAP the minority, as well as the operator of the student accommodation.

Including the recently launched Campus, TAP has 1,800 beds to date, with the plan to reach 2,000 by the end of 2023 and 3,000 by 2024. Major investments have been made in the property to make it suitable for student housing. To maximize growth, TAP will need to embark on another round of fund-raising.

With over 55% of TAP’s members at 30 years and below, of which 65% are international students, the aim is to provide them with a platform to develop skills and interact with each other. Inclusion of career talks and other programmes will allow students to share their interests and enjoy mental wellness whilst being away from home.