Liberty to list company that will allow investors to access country's leading malls
Liberty Two Degrees is expected to list in the week of December 5.
It will own undivided shares in the Liberty property portfolio valued at about R6bn, which is about 22% of Liberty's investment property. Liberty Two Degrees will co-own predominantly retail real estate assets in SA. In Johannesburg, interests will include Sandton City, Eastgate, Nelson Mandela Square and the mixed-use precinct of Melrose Arch.
Other retail assets will be regional shopping centres: Liberty Midlands Mall in KwaZulu-Natal and Liberty Promenade in Mitchells Plain in the Western Cape, as well as the newly developed Botshabelo Mall in the Free State.
In addition to the offices already included in the main retail complexes, Liberty Two Degrees will co-own select office properties located in key business nodes with blue-chip anchor tenants, such as the Standard Bank Centre in Johannesburg.
Source: Business Day