Childcare centre converted from car park space to open at Wisteria Mall

A new daycare center is arranged to open up at Wisteria Shopping center on July 1. Located at the shopping center’s second floor parking area, the preschool is the primary childcare centre under URA’s Community/Sports Facilities Scheme (CSFS) turned from car park space claims Knight Frank Singapore in a June 25 press release.

Schroders obtained the shopping mall from BBR Holdings in 2022 for $208 million. The shopping center is the commercial component of 99-year leasehold, mixed-use development The Wisteria in Yishun, which includes a 216-unit condo.

According to Knight Frank, the need for a child care facility to service the bordering area had been recognized by the shopping mall’s owner– worldwide investment management company Schroders– since early in 2023. As Wisteria Shopping mall was already developed to its highest permitted GFA, the business tapped on the CSFS to change area of the presenting parking area room into a childcare centre.

The new facility will be run by Artemis Preskool and is backed by the Early Childhood Development Agency (ECDA).

“We are delighted to provide the very first CSFS childcare centre that has actually been converted from car park spot to Singapore,” mentions Andrew Moore, head of real estate for Asia Pacific at Schroders Capital.

Sceneca Residences floor plan

The CSFS grants reward gross floor area (GFA) to property developments for the reasons of community and sports uses, subject to an overall limit of 10% of the maximum allowable GFA for the place under the Master Plan or 21,528 sq ft, whichever is cheaper.

Knight Frank was selected to inform Schroders on the protocols, terms and conditions of the CSFS and ECDA licensing structure, along with validating the demand for childcare programs in the community.

He adds that new centre will definitely expand Wisteria Mall’s lifestyle offerings at Wisteria Mall and belongs to Schroders’ ongoing improvement of the mall since acquiring the building.

According to Knight Frank, the conversion needed substantial physical groundwork to support the centre’s functions, a brand-new passenger lift resulting in the brand-new center, dedicated parking area for clients, and safe accessibility to an exterior backyard in a close-by HDB estate. The whole preparation and development process took over 14 months to finish.

On the other hand, CBRE was appointed as project administrator to supervise construction programs and submissions to pertinent authorities to acquire the essential legal approvals, providing URA approval for the change of use.

error: Content is protected !!