RECOVERING RETAIL | With Liberty Two Degrees CEO Amelia Beattie

THE SANDTON TIMES chats to Amelia Beattie, CEO of Liberty Two Degrees, that co-owns Sandton City, Nelson Mandela Square, Sandton Sun Hotel, the InterContinental Sandton Towers and the Garden Court Sandton, amongst others.
Liberty Two Degrees (L2D) is an internally managed, precinct focused Real Estate Investment Trust (“REIT”) that co-owns a quality iconic property portfolio of South African assets that are primarily retail focused. This week, the company presented its full year financial results for the year ended on the 31 December 2020.
As retail, hotels and parking lots went quiet in 2020, Liberty Two Degrees’ (L2D) felt the impact, with a net property income down 45.6% to R377.3 million in the year to December 31. With tenants requiring rental relief and rising tenant arrears, it's been a difficult time for South Africa's landlords. Although hard to time, recovery is on the horizon for South Africa's most iconic shopping destinations.
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