Positive news for the Yishun neighbourhood! On July 1, Wisteria Mall will host the opening of a brand-new childcare centre. This creative preschool is the first of its kind at the mall and marks the first to open under the Community/Sport Facilities Scheme (CSFS) by the Urban Redevelopment Authority (URA). The change from vehicle park space to a vibrant childcare centre in community-centric urban development represents a major turning point.
The mall’s owner, multinational investment management company Schroders, came up with the concept for this childcare centre after seeing the growing demand for such a facility in the nearby area. Early in 2023, Schroders saw the demand and chose to use the CSFS to realize their idea. With a cap of 10% of the maximum permitted GFA for the site or 21,528 square feet, whichever is lower, this project permits a bonus gross floor area (GFA) for community and sporting uses.
Schroders used the CSFS’s potential as Wisteria Mall was already built to maximum GFA. Part of the second-level parking park was turned into a lively nursery. This conversion needed major physical infrastructure upgrades, not only with regard to space repurposing. Along with separate parking lots for patrons and safe access to an outdoor play area in an adjacent HDB estate, a new passenger lift was erected to give simple access to the facility.
Bringing this idea to life requires teamwork. Advice on the policies, terms, and conditions of the CSFS and Early Childhood Development Agency (ECDA) licencing system was much sought for by Knight Frank Singapore. They also confirmed the demand for local childcare facilities, guaranteeing that the new centre will satisfy local demands.
Concurrently, CBRE was designated as the project manager, supervising building proposals and filings to pertinent authorities to acquire the required legislative approvals—including URA clearance for the change of use. Over 14 months, the whole planning and building process was painstakingly controlled to guarantee the best safety and quality standards.
Run by Artemis Preskool, the new daycare facility is approved by the ECDA, therefore guaranteeing that early childhood education and care criteria are met. Head of real estate for Asia Pacific at Schroders Capital, Andrew Moore, said he was happy to see the first CSFS childcare centre built from Singapore using car park space. He underlined that this new centre enhances the lifestyle options of Wisteria Mall and is evidence of Schroders’ continuous attempts to revitalize the mall since the property acquisition.
For $208 million, Schroders paid BBR Holdings Wisteria Mall. Comprising a 216-unit condominium, the mall is the commercial element of the 99-year leasehold, mixed-use property The Wisteria in Yishun. Establishing the childcare facilities is a major step in improving the attractiveness and usefulness of the mall, hence increasing its integration into the neighbourhood.
The opening of the new childcare facility at Wisteria Mall marks a revolutionary change highlighting creative urban design and community-oriented projects. Schroders has met a vital demand and established a standard for further CSFS expansions by turning the vehicle park area into a place of learning and caring. The Yishun community has something exciting ahead—a fresh addition that supports families and helps the mall to keep changing.
