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

A new childcare centre is set to open at Wisteria Mall on July 1. Located at the mall’s second storey car park, the preschool is the first childcare centre under URA’s Community/Sports Facilities Scheme (CSFS) converted from car park space says Knight Frank Singapore in a June 25 press release. According to Knight Frank, the need for a childcare facility to service the surrounding community had been identified by the mall’s owner – global investment management firm Schroders – since early last year. As Wisteria Mall was already built to its maximum permissible GFA, the firm tapped on the CSFS to convert part of the existing car park space into a childcare centre. The CSFS grants bonus gross floor area (GFA) to developments for the purposes of community and sports uses, subject to an overall cap of 10% of the maximum permissible GFA for the site under the Master Plan or 21,528 sq ft, whichever is lower. Read also: Manila and Tokyo lead global rally of prime residential market in 1Q2024: Knight Frank Advertisement The new centre will be operated by Artemis Preskool and is endorsed by the Early Childhood Development Agency (ECDA). Knight Frank was appointed to advise Schroders on the guidelines, terms and conditions of the CSFS and ECDA licensing structure, as well as validating the demand for childcare services in the area. Meanwhile, CBRE was appointed as project manager to oversee construction plans and submissions to relevant authorities to obtain the necessary statutory approvals, including URA approval for the change of use. According to Knight Frank, the conversion required extensive physical infrastructure to support the centre’s operations, a new passenger lift leading to the new facility, dedicated parking lots for customers, and safe access to an outdoor play area in a nearby HDB estate. The entire planning and construction process took over 14 months to complete. “We are delighted to bring the first CSFS childcare centre that has been converted from car park space to Singapore,” says Andrew Moore, head of real estate for Asia Pacific at Schroders Capital. He adds that new centre will expand Wisteria Mall’s lifestyle offerings at Wisteria Mall and is part of Schroders’ continued rejuvenation of the mall since acquiring the property. Read also: Knight Frank appoints Jackie Cheung as Director of ESG for APAC and Singapore Advertisement Schroders acquired the mall from BBR Holdings in 2022 for $208 million. The mall is the commercial component of 99-year leasehold, mixed-use development The Wisteria in Yishun, which includes a 216-unit condo.