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The Assembly Place to convert Tras Street commercial building into 152-key hotel

Atiqah Mokhtar

/ EdgeProp Singapore

March 23, 2026 11:35 AM SGT

propertyeditor@edgeprop.sg

propertyeditor@edgeprop.sg

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The Assembly Place intends to convert Lian Huat Building, an 11-storey freehold commercial building at 163 Tras Street, into a 152-room hotel (Picture: ETC)

The Assembly Place intends to convert Lian Huat Building, an 11-storey freehold commercial building at 163 Tras Street, into a 152-room hotel (Picture: ETC)

Co-living operator The Assembly Place has completed its acquisition of Lian Huat Building, an 11-storey freehold commercial building at 163 Tras Street. The acquisition was carried out through 163 TS, a joint venture company in which The Assembly Place holds a 10% equity interest, the firm says in a March 23 release.

The Assembly Place intends to convert the property into a 152-room hotel. URA has granted provisional permission to change the building’s use from commercial to hotel, with “certain additions and alterations”, the company adds.

Lian Huat Building was put up for sale by tender in May 2025 with a guide price of $88.8 million. The price worked out to $2,288 psf on the building’s gross floor area of about 38,818 sq ft.

Read also: The Assembly Place partners S11 on community-driven workers’ dormitory concept

In July 2025, the building was reported to have been sold for $90 million to a consortium comprising The Assembly Place, Apricot Capital and Eric Low, the deputy CEO of Oxley Holdings.

Low is also a controlling shareholder and a non-executive shareholder of The Assembly Place. Meanwhile, Apricot Capital — the family office for the Teo family behind the Super Group beverage empire — was a cornerstone investor for The Assembly Place’s IPO and subsequent listing on the Catalist board of the Singapore Exchange in January.

Lian Huat Building is located in Tanjong Pagar, adjacent to the Icon Village and 100 AM shopping malls. It is within walking distance of the Tanjong Pagar MRT Station (East-West Line) and the Prince Edward Road MRT Station (Circle Line), which is scheduled to open this year.

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