Serene Centre Sold To Coffee Empire Super Group for S$105 million
Coffee Empire Heirs Venturing into Property Management with Co-Living Concept
Serene Centre, a landmark mixed-use development at the nexus of Bukit Timah Road and Farrer Road, has been acquired for $105 million by the Teo family, founders of Singapore’s renowned 3-in-1 coffee brand Super Group, through their private investment firm, Apricot Capital.
This acquisition introduces a new chapter for the property, with The Assembly Place taking the helm as the asset manager to oversee a transformative asset enhancement initiative.
The purchase, announced in December 2023, reflects a strategic expansion by the Teo family into real estate, following the successful $1.45 billion sale of Super Group.
Serene Centre, boasting a rich history and a prime location near the Botanic Gardens MRT interchange, offers a unique blend of commercial and residential spaces across its four storeys.
This freehold commercial development includes 30 retail and food & beverage units, alongside 10 residential apartments, encapsulating a vibrant community hub.
Serene Centre’s Transformation: A New Era of Co-Living and Retail Synergy
Under its new ownership, Serene Centre is poised for a comprehensive makeover aimed at revitalizing its retail offerings and introducing co-living spaces.
Plans include the addition of 86 service apartment rooms, communal kitchens, utility rooms, and lounges, catering to a modern lifestyle that values community and convenience.
This redevelopment aligns with The Assembly Place’s vision to foster social connections and community spirit among its residents, marking its debut in retail mall management.
With renovation works slated to begin in April and completion targeted by the first quarter of 2025, Serene Centre is set to emerge as a model for integrating co-living concepts within a retail environment, promising enhanced footfall and a vibrant, interconnected community.
This strategic venture not only signifies the Teo family’s diversification into real estate but also sets a precedent for future developments that blend living, shopping, and socializing in Singapore’s dynamic urban landscape.
Super Group: Pioneering Singapore’s 3-in-1 Instant Beverage Market
Super Group Ltd, headquartered in Singapore, is a leading name in the food and beverage industry, particularly renowned for its innovation in the instant beverage sector.
Founded in the 1980s by David Teo, Super Group revolutionized coffee consumption with the introduction of the 3-in-1 coffee sachet, a convenient mix of coffee, creamer, and sugar, all in one packet.
From its humble beginnings, Super Group has grown into a powerhouse with a diverse product portfolio that includes instant coffees, teas, cereals, and a variety of other complementary products.
The company’s commitment to quality, innovation, and understanding of consumer preferences has cemented its status not only in Singapore but across multiple international markets.
Super Group’s manufacturing capabilities are a testament to its commitment to excellence, with state-of-the-art facilities that ensure the highest standards of product safety and quality.
The company’s research and development team continuously works on creating new formulas and tastes that cater to evolving consumer trends, emphasizing health-conscious options without compromising on flavor.
In 2016, Super Group took a significant step towards global expansion when it became part of Jacobs Douwe Egberts (JDE), a global coffee and tea company based in the Netherlands.
This acquisition allowed Super Group to leverage JDE’s extensive distribution network, enhancing its international presence and introducing its signature products to a wider audience.
Despite its global reach, Super Group remains deeply rooted in Singapore, contributing to the local economy and community.
The company’s success story is a reflection of Singapore’s entrepreneurial spirit and its ability to innovate and compete on the world stage.
Today, Super Group continues to innovate within the beverage industry, driven by a vision to bring enjoyment and convenience to consumers around the world.
Its journey from a local startup to a global player in the instant beverage market is an inspiring tale of innovation, quality, and strategic expansion.
