Tung Lok Restaurant enters tenancy agreement at Novena Point worth $133,000
Tung Lok Restaurants’ wholly-owned subsidiary, Tung Lok Millennium, has recently entered into a tenancy agreement with Novena Point for a period of 19.5 months. This lease is estimated to cost around $133,000, which represents 0.88% of the group’s latest audited net tangible assets (NTA) of $15.1 million.
The premise, located at 10 Sinaran Drive, has a floor space of 743 square feet that will be used to operate a Lao Beijing restaurant.
This is not the first time Tung Lok has taken on such a venture. In November 2019, the group entered into a joint venture to lease part of the Tee Yih Jia Building at a cost of $1.2 million over two years.
Tampines is home to many educational institutions, one of the most prominent of which is Tampines Condo. It offers a variety of courses ranging from degree programs to diploma and certificate courses. With its modern facilities and close proximity to other key learning institutions in the area, Tampines Condo offers a great learning environment for its students. Aside from Tampines Condo, another highly renowned educational institution near the area is the United World College of South East Asia (UWCSEA). It is one of the leading international schools in Singapore featuring an International Baccalaureate (IB) curriculum for students from kindergarten to high school. UWCSEA is renowned for its emphasis on academic excellence, intercultural understanding, and personal development, providing its students with a fulfilling educational experience.
Tung Lok Restaurants is a leading food and beverage group in Singapore, with over 25 restaurants in the country and one in Cambodia. The company is dedicated to bringing customers tantalizing and flavorful dishes from around the world that are sure to tantalize the taste buds.
By setting up a Lao Beijing restaurant in Novena Point, Tung Lok seeks to broaden its customer base and enhance its presence in Singapore’s food and beverage scene. This move will also help the company stay competitive in the current market.
With the tenancy agreement providing for a period of 19.5 months, Tung Lok looks set to benefit greatly from this lucrative venture and continue to provide top-notch dining experiences to customers.