Wisteria Mall in Yishun Up for Sale at About S$220 Million, Four Years After a S$208 Million Purchase
Schroders is looking to sell Wisteria Mall, a two-storey neighbourhood mall in Yishun, and hopes to raise about S$220 million, according to people familiar with the matter. Property consultancies Knight Frank and Savills are running an expression of interest exercise that closes in late November. The mall was bought in 2022 for S$208 million by a Schroders real estate fund.
Target Price
Bought in 2022
Occupancy
Expression of Interest Closes
The Deal at a Glance
| Item | Detail |
|---|---|
| Property | Wisteria Mall, two-storey suburban retail mall in Yishun |
| Seller | Schroders Pamfleet Real Estate Fund III (Schroders was acquired by Nuveen last month) |
| Marketing | Knight Frank and Savills, expression of interest |
| Target | About S$220 million |
| Purchase price in 2022 | S$208 million |
| Occupancy | About 93% |
Figures from people familiar with the sale, as reported. Neither Schroders nor the consultancies confirmed the price.
Why Schroders Is Selling
The mall sale is part of a wider effort by the London-based fund manager to trim its Singapore holdings. It is also trying to sell a hotel here that it co-owns with TPG Angelo Gordon. A Schroders Capital spokesperson said the firm reviews its portfolios regularly and looks at options that serve its investors.
A target of about S$220 million would be only around 6% above the 2022 price, a modest gain over four years. The hotel sale has taken longer: a process run by JLL in 2024, at about S$320 million, has yet to produce a buyer.
A Busy Year for Commercial Deals
Commercial property sales in Singapore have been unusually strong in 2026. According to MSCI, they came to about US$20 billion in the first three quarters, more than three times the amount a year earlier. Part of the reason is that many funds are reaching the end of their life and their owners are more willing to accept realistic prices.
Suburban malls have been among the most traded assets this year. Rivervale Mall in Sengkang changed hands for S$276 million and a 50.1% stake in Eastpoint Mall went for S$239.5 million. Savills notes that retail assets on 99-year leases usually offer net yields of about 4% to 5%. However, consultants expect deal volume to ease in 2027 as borrowing costs rise, which we covered in our post on the 2027 investment outlook.
Frequently Asked Questions
How much is Wisteria Mall being sold for?
The seller is hoping to raise about S$220 million, according to people familiar with the sale. No price has been confirmed.
Who owns Wisteria Mall?
A real estate fund managed by Schroders, which bought it in 2022 for S$208 million.
When does the sale process close?
The expression of interest exercise is due to close in late November 2026.
Are commercial property deals slowing down?
Consultants expect total investment sales to ease from a record of about S$55 billion in 2026 to between S$35 billion and S$45 billion in 2027, mainly because of higher borrowing costs.
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