newsXpress is regularly offered opportunities by shopping centre landlords. Each opportunity is assessed and negotiations undertaken. If the opportunity does not meet our minimum requirements, we do not proceed.
This happened recently with an opportunity in a major centre in Queensland where the store, trading under a different newsagency banner group, is in hard times. We engaged with the landlord, talked terms and eventually said thanks but no thanks this time.
We will not take on a tenancy just for the sake of it. It must work on its own, the numbers must be right.
Sometimes, a smaller newsagency outside a major centre will deliver a far more valuable return than the higher profile business. Our focus is on the size of the return on investment.
