23 S11 Coffee Shops Sold To Broadway For $200 Million
Ask any heartlander for great hawker fare near their homes, and they’ll probably recommend the nearest S11 coffee-shop in the neighbourhood.
So when we heard that rival coffee-shop chain Broadway bought over all 23 S11 hawker centres for a record-breaking $200 million, we were obviously shook.
S11 and Broadway’s rivalry runs deep
Though Broadway has assured loyal S11 coffee-shop goers that they’ll continue to “provide the public with delicious, economical and quality food”, we weren’t so sure about what the acquisition may entail.
Let’s pick apart their official statement just in case.
Besides, the fate of that shiok bowl of Prawn Mee just around the corner from your house may be at stake.
Penang Delights’ Famous Prawn Mee at S11 Ang Mo Kio Blk 711
$200 million deal
The acquisition of S11 by Broadway is estimated to cost S$200 million — which makes it the largest deal for a coffee-shop chain in Singapore.
Broadway, the rival chain buying S11, is expected to double their branches with this purchase, according to The Straits Times.
A sudden takeover announcement in Lianhe Zaobao on Feb 10 saw Broadway stating that they will “renew the good brand established by S11 over the past years”.
Hopefully, “renew” doesn’t mean a complete overhaul of all the anchor tenants.
Us, for our favourite hawker stores
23 branches affected by acquisition
We hate to break it to you, but since 23 of S11’s coffee-shops have been acquired, chances are high that yours will be affected too.
Here are all the addresses of the shops acquired by Broadway.
- 132 Jurong Gateway Road, #01-273
- 51 Ang Mo Kio Avenue 3, #01-03
- 711 Ang Mo Kio Avenue 8, #01-3501
- 504 Bishan Street 11, #01-444
- 713 Ang Mo Kio Avenue 6, #01-4032
- 302 Woodlands Street 31, #01-277
- 304 Woodlands Street 31, #01-125
- 640 Bukit Batok Central, #01-40
- 744 Yishun Street 72, #01-197
- 530 Ang Mo Kio Avenue 10, #01-2379
- 450 Ang Mo Kio Avenue 10, #01-1747
- 43 Holland Drive, #01-75
- 727 Clementi West Street 2, #01-294
- 347 Bukit Batok Street 34, #01-252
- 101 Yung Sheng Road, Taman Jurong Theatre
- 117 Killiney Road
- 34 Upper Cross Street, #01-132
- 630A Woodlands Ring Road, #01-01
- 787B Choa Chu Kang Drive, #01-241
- 107 Hougang Avenue 1, #01-00
- 110 Lengkong Tigar,#01-239
- 342 Ang Mo Kio Avenue 1, #02-1561
- 342 Ang Mo Kio Avenue 1, #02-1563
Will all the existing hawker stalls still remain?
Mr Hong Pin Hin was quick to assure concerned residents that customers would not see “any drastic changes to the stall at the coffee-shops”.
Since Mr Hong’s the chairman of Foochow Coffee Restaurant and Bar Merchants Association – which represents over 400 coffee shops in Singapore – we sure do hope we can trust him on this.
In the meantime, a transitional takeover is expected to take place within three months.
He also says that Broadway will take over the business “as it is”, so the existing stalls “should all stay there”.
Unlikely to see price changes for now
Now let’s talk prices.
Mr Hong apparently said that at the start, prices should be “quite stable and stay as they are”.
However, he followed up with the fact that rental prices may increase — if the new management wishes to upgrade the existing coffee-shops.
Of course, if rental is higher for the tenants, they may choose to pass on these costs to their customers.
This means that possible price hikes for a shiok bowl of laksa in the neighbourhood, still cannot be ruled out in the future.
Nothing’s constant except change
Admittedly, when this million-dollar deal came to light, a million questions also ran through our minds.
Do we have to say goodbye to our favourite Teochew Minced Meat noodles? Will the affordable Mala place round the corner still be as cheap?
Thankfully, it seems like Broadway won’t be making any drastic changes — for now.
However, as they say, the only real constant is change.
Just please, spare all the good hawker food with affordable prices.
Featured image from Burpple.