Multinational restaurant brand, Chanticleer Holdings is in the process of launching a new addition to the collection of five Hooters restaurants it currently operates in South Africa.

“We are excited by the potential of this store and believe that it will be another successful location for Hooters South Africa,” Chief Financial Officer of Hooters South Africa, Dareen Smith said.

The transaction is worth R5 million ($475,977) but the American-based company is expected to make a deposit of R1.5 million ($142, 810) within seven days of the agreement and take over the building within eight to ten weeks.

The 1,435 square-foot building at Walmer area of Port Elizabeth will be the sixth Hooters restaurants in South Africa but the first building owned by Chanticleer, with the other five being leased.

“The Port Elizabeth property was a unique opportunity for us to acquire real estate in a growing city where we believe the Hooters restaurant will flourish,” Chanticleer’s Chairman and CEO, Mike Pruitt said.

Its location in a residential area alongside trendy bars, local businesses and other stylish restaurants provides an attractive blend of both residential and business guests for the new Hooters.

Renovations are expected to commence prior to registration of property transfer with the opening date scheduled for the third quarter of this year.

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