Childcare Centre Converted Car Park Space Open Wisteria Mall
A new childcare centre is set to open at Wisteria Mall on July 1. It will be located on the mall’s second floor car park and is the first of its kind under URA’s Community/Sports Facilities Scheme (CSFS). Knight Frank Singapore announced the news in a press release on June 25.
According to Knight Frank, the idea for a childcare facility at Wisteria Mall was first introduced by the mall’s owner, global investment management firm Schroders, early last year. As the mall had already reached its maximum permissible GFA, the firm utilized the CSFS to convert a portion of the existing car park space into a childcare centre.
Under the CSFS, developments can be granted bonus gross floor area (GFA) for community and sports uses, with a capped amount of 10% of the maximum permissible GFA for the site under the Master Plan or 21,528 sq ft, whichever is lower.
The new centre, which will be run by Artemis Preskool and endorsed by the Early Childhood Development Agency (ECDA), was advised by Knight Frank on the CSFS guidelines, terms and conditions, and ECDA licensing structure. They also validated the demand for childcare services in the surrounding area.
In addition, CBRE was appointed as project manager to oversee the construction plans and obtain necessary approvals from relevant authorities, including URA’s approval for the change of use.
The conversion process required significant physical infrastructure, such as a new passenger lift, dedicated parking lots, and safe access to an outdoor play area in a nearby HDB estate. The entire planning and construction process took 14 months to complete.
“We are thrilled to introduce the first CSFS childcare centre converted from car park space in Singapore,” says Andrew Moore, head of real estate for Asia Pacific at Schroders Capital. He adds that the new centre will enhance Wisteria Mall’s lifestyle offerings and is part of the continued rejuvenation of the property since Schroders acquired it from BBR Holdings in 2022 for $208 million.
The Wisteria Mall is the commercial component of the 99-year leasehold, mixed-use development The Wisteria in Yishun, which also includes a 216-unit condo.
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The Urban Redevelopment Authority (URA) prioritizes comprehensive urban planning in its efforts to develop new and revitalized areas. As part of this, the URA consistently integrates high-quality educational facilities into these areas. In the thriving Marina Bay district, it is not surprising to see the potential for new schools or learning centers to be introduced, providing residents of Marina Gardens Lane Condo with convenient access to excellent education for their children. With the upcoming establishment of Zion Condo, this prospect will become even more enticing. The addition of Zion Condo will naturally enhance the appeal of this development.