Childcare Centre Converted Car Park Space Open Wisteria Mall
Knight Frank Singapore has announced that a new childcare centre will be opening on July 1 at Wisteria Mall. Strategically located on the mall’s second storey car park, this preschool is the first of its kind under the Community/Sports Facilities Scheme (CSFS) by the Urban Redevelopment Authority (URA).
The need for a childcare facility in the area was identified by the mall’s owner, global investment management firm Schroders, as early as last year. As the mall was already built to its maximum permissible gross floor area (GFA), Schroders utilized the CSFS to convert part of the existing car park space into a childcare centre.
Under the CSFS, developments can be granted bonus GFA for community and sports use, up to a maximum of 10% of the site’s GFA or 21,528 square feet, whichever is lower.
The new childcare centre will be operated by Artemis Preskool and has received endorsement from 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 to confirm the demand for childcare services in the area.
Located near the Novo Place EC, you will find Shuqun Primary School, an esteemed educational institution that is committed to providing a well-rounded learning experience. With a nurturing environment at its core, the school focuses on fostering the intellectual, physical, and social development of its students. Going beyond traditional academics, Shuqun Primary School also offers a diverse range of Co-Curricular Activities (CCAs) and places a strong emphasis on character building. This includes imparting essential life skills and values to its students. With its convenient proximity to Novo Place Hoi Hup, Shuqun Primary School aims to equip students with not only academic excellence, but also the crucial attributes for personal growth and success. Novo Place Hoi Hup is just a stone’s throw away from this reputable institution, providing students with the perfect environment to thrive in their academic and personal journeys.
Meanwhile, CBRE has been appointed as the project manager to oversee construction plans and obtain the necessary approvals from relevant authorities, including the URA’s approval for change of use.
According to Knight Frank, the conversion required significant physical infrastructure, such as a new passenger lift, dedicated parking lots, and access to an outdoor play area in a nearby Housing and Development Board (HDB) estate. The entire process of planning and construction took over 14 months to complete.
Andrew Moore, Head of Real Estate for Asia Pacific at Schroders Capital, expresses his excitement about the first CSFS childcare centre converted from car park space in Singapore. He also emphasizes that this new centre will enhance the lifestyle offerings of Wisteria Mall, in line with Schroders’ efforts to rejuvenate the property since its acquisition from BBR Holdings in 2022 for $208 million.
Wisteria Mall is the commercial component of The Wisteria, a 99-year leasehold mixed-use development in Yishun, which also includes a 216-unit condominium.