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

The new centre will be managed by Artemis Preskool and is recommended by the Early Childhood Development Agency (ECDA).

According to Knight Frank, the conversion needed extensive physical facilities to sustain the centre’s tasks, a brand-new people lift leading to the new facility, dedicated car park for customers, and safe access to an outside backyard in a nearby HDB estate. The entire planning and construction process took over 14 months to complete.

Knight Frank was selected to advise Schroders on the protocols, terms and conditions of the CSFS and ECDA licensing framework, along with validating the necessity for childcare support services in the location.

A brand-new daycare centre is placed to open up at Wisteria Shopping mall on July 1. Situated at the shopping mall’s second floor parking area, the day care center is the very first childcare centre under URA’s Community/Sports Facilities Scheme (CSFS) switched from parking lot area states Knight Frank Singapore in a June 25 news release.

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

Emerald Of Katong Singapore

According to Knight Frank, the demand for a childcare center to service the surrounding neighborhood had been distinguished by the store’s owner– global investment management business Schroders– since early last year. As Wisteria Shopping mall was already built to its highest permitted GFA, the firm struck on the CSFS to transform section of the remaining parking lot space into a childcare centre.

“We are thrilled to bring the first CSFS child care centre that has been converted from car park spot to Singapore,” mentions Andrew Moore, head of real estate for Asia Pacific at Schroders Capital.

The CSFS grants bonus gross floor area (GFA) to developments for the reasons of neighborhood and sports uses, subject to an overall cap of 10% of the maximum allowable GFA for the site within the Master Plan or 21,528 sq ft, whichever is cheaper.

Meanwhile, CBRE was selected as campaign manager to supervise building and construction programs and submissions to relevant governments to obtain the necessary legal consents, consisting of URA approval for the update of use.

He adds that new centre will definitely expand Wisteria Mall’s lifestyle services at Wisteria Mall and becomes part of Schroders’ ongoing rejuvenation of the mall since acquiring the asset.


error: Content is protected !!