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Omni’s lights go out

THE old Omni Theatre site’s run as a cinema has come to an end.

National retail franchisor Harvey Norman bought the CityWest complex housing the Omni Theatre earlier this year from the Hong Kong-based Hang Lung Corporation and took over the Archie Martin Vox electrical goods and homewares store there.

Harvey Norman chairman Gerry Harvey said the company was negotiating a lease for the property with three interested parties and a decision was expected soon.

None of the potential lessees are cinema operators.

When Harvey Norman buys a complex such as CityWest, it usually fills the other tenancies with businesses that will draw customers.

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Total Shareholder Return as at 30/09/16

1 year TSR5 year TSR
190thHarvey Norman42%26%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

33rd↑Harvey Norman$3,018.6m
57th↑STW Group$478.4m
59th-Sedgman$359.3m
70th-Southern Gold$19k
77 listed non wa companies ranked by revenue.
Source: Morningstar

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