The proposed store comprises approximately 222m² of internal trading area together with a 100m² patio, creating a substantial flagship opportunity for the Adega brand.

Based on our feasibility modelling and experience within the casual dining sector, we believe the site is capable of generating annual turnover in the region of R18 million to R20 million. One of the more attractive aspects of the opportunity is that the occupancy cost equates to approximately 4.4% of projected turnover, which is exceptionally favourable for a restaurant operation of this nature.

The store is intended to showcase our next-generation customer experience, including our new tapas belt concept, which we believe will create a highly differentiated offering within the market and position the restaurant as a destination venue rather than simply another dining option.

Using conservative assumptions, we anticipate the business being capable of generating operating profits in excess of R4 million per annum, whilst still providing meaningful upside during peak trading periods and seasonal demand cycles.

Given the scale of the catchment area, the patio component, the strength of the Adega brand and the uniqueness of the concept, we believe this site has the potential to become one of the stronger performing restaurants within the portfolio.