The acquisition was carried out through 163 TS, a joint venture company in which The Assembly Place holds a 10% equity stake.
Catalist-listed co-living operator The Assembly Place has completed its acquisition of 163 Tras Street, an 11-storey freehold commercial building formerly known as Lian Huat Building.
The Assembly Place intends to convert the property into a 152-room hotel. According to a March 23 announcement, provisional permission has been granted by the Urban Redevelopment Authority (URA) for a change of use from commercial to hotel use, “with certain additions and alterations”.
