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Subway is considering opening two new Wakatipu stores, after its sudden exit from Terrace Junction in June.
Subway South Island development manager Stan Greene would not be drawn on whether Subway was pursuing legal action against its former landlord over claims of high rent.
The Otago Daily Times understands the lease at Terrace Junction, near the BP service station, may have been more than $100,000 a year.
When asked about the figure or the possibility of court action, Mr Greene said he would not comment.
''Generally speaking, everyone knows Queenstown is a tourist place and has high rentals ... Leases as a whole ... are a binding agreement between the tenant and landlord so they must be OK at the time of signing.''
No decisions had been made about where any future stores would be, Mr Greene said.
There is already a Subway store in Camp St, in central Queenstown, and the ODT understands Subway is looking at Five Mile as an option, with a third store for the resort a possibility.
Maori Hill Property Ltd director and general manager Dale Robertson, property manager for Terrace Junction, was on leave and unable to respond to requests for comment.