Tung Lok Restaurant enters tenancy agreement at Novena Point worth $133,000

Tung Lok Restaurants, a wholly-owned subsidiary of its parent company, has recently entered into a tenancy agreement with Novena Point for a period of 19.5 months. The agreement will see Tung Lok Millennium operate a Lao Beijing Restaurant at the premise located at 10 Sinaran Drive. The premise occupies a floor area of 743 square feet.

The development is equipped with the latest amenities and modern designs to reflect its modern living lifestyle. Resident can enjoy the walking and running trails, connecting them to the nearby nature reserves. Furthermore, there are many shopping malls and restaurants located nearby where residents can enjoy a variety of dining experiences and shopping experiences. With its comfortable and convenient living arrangements, Tengah Executive Condominium is the perfect place to call home for those who seek to live in the heart of Singapore.

The estimated rental fees payable during the duration of the lease is approximately $133,000, representing 0.88% of the group’s latest audited net tangible assets (NTA) of $15.1 million.

This agreement follows a previous announcement by Tung Lok’s joint venture (JV) with Tee Yih Jia to lease part of Tee Yih Jia Building for $1.2 million over a two-year period.

With the new tenancy agreement, Tung Lok hopes to further enhance their reputation as one of Singapore’s most innovative and reliable F&B group. Both businesses look forward to a successful partnership.