Times Newslink sole bidder in Changi news tender

Times Newslink is the only bidder in the news and books tender at Singapore Changi airport terminal three. 

The concession consists of a 223sq m (2,400sq ft) shop in the north departure/transit lounge, a 261sq m (2,809sq ft) store in the south departure/transit lounge and a 123sq m (1,323sq ft) shop on the mezzanine level of T3.

The retailer has offered to pay the airport either 10% of monthly gross sales up to S$800,000 ($522,875) plus 15% of sales above that figure or a minimum monthly guarantee of S$75,000 ($49,019) for the first year, $85,000 ($55,555) for the second and $95,000 ($62,090) for the third year of the tenancy, depending on which is higher.

The tenancy term is three years with an option to extend for two more years.The deadline for bids passed on March 9 and the start date for the contract is January 1 2008.