Treasury China Trust, which listed on the Singapore main board in June this year, has secured an eight year extension for Nina’s Sichuan Restaurant at Central Plaza, an office and retail tower located in Shanghai, at an 82 per cent increase over the previous rent.

Nina’s, a tenant in the building since 2004, is a key renewal for Central Plaza’s retail podium.

Chief executive Richard David says: “The renewal of the lease for Nina’s Sichuan Restaurant, brings the occupancy for Central Plaza’s retail podium’s to over 70 per cent just two months after its market release and with ongoing strong enquiry we expect full occupancy to be achieved in the short term. This transaction further emphasizes the success of our refurbishment program and joins Waga’s, Urban 18 and Shunfeng as quality food and beverage operators at Central Plaza. Of equal importance is Nina’s commitment to reinvestment of over SGD1.2m for a high quality upgrade of their 675 sqm premises which will re-open in the fall of this year.”

Treasury China Trust owns a portfolio of Chinese office and retail assets totalling more than SGD1.9bn in value.