Liberty Two Degrees (L2D), part-owner of Sandton City, Melrose Arch and Eastgate, looks set to round off a good 2018 with a strong festive season, as careful management of its prized assets has led to very low vacancies across its portfolio. L2D has decreased its retail portfolio vacancies to 1.9% at the end of September from 4.3% at the end of June, while the national average sits around 4.2%, a report for the third quarter of 2018 released on Wednesday showed. Much of the decrease in the overall retail vacancy was driven by L2D managing to fill Sandton City for the first time. Metope investment analyst Kelly Ward said the asset managers at L2D had done a “phenomenal job” filling Sandton City while the economy was in a recession. “A zero-percent vacancy is unusual, and well done to them in this challenging environment. Especially interesting for the market is the new international tenants, which will no doubt draw in foot traffic and differentiate the centre,” she said. L2D also ma...

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