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Malls fill most Stuttafords-sized holes

Mix of new tenants and relocations replace sprawling vacated stores.

The two landlords most affected by the failure of Stuttafords – Liberty Two Degrees and Hyprop Investments – have managed to fill three-quarters of the space vacated by the department store. 

Liberty Two Degrees has the largest headache, as just two Stuttafords stores at Sandton City and Eastgate occupied a sprawling 16 000m2. Because of this previous store’s vast size, it has only managed to fill about two-thirds of the vacant space.

At Sandton City, the double-level space vacated by Stuttafords in August 2017 has been reconfigured into ten stores, with Dis-Chem, Pick n Pay Clothing, Exclusive Books, Markham, LC Waikiki, Ted Baker and YSL taking space. It will be Turkish fashion brand LC Waikiki’s first outlet in the country.

Source: Liberty Two Degrees annual results presentation for the year ended December 31 2017.

Liberty Two Degrees has not shared any additional details, and one assumes that there will be vacant space created by Markham and Exclusive Books moving from other locations in the mall. The three still vacant shops (as at December 31 2017) are 1 052m2, 758m2 and 69m2

At Eastgate, Liberty has also managed to attract Dis-Chem to the mall with the second of three large stores in the ex-Stuttafords space being pre-let to H&M. It says “one box of 3 432m2 [is] near concluded. There is also 1 254m2 of mezzanine office remaining”.

Shopping mall

Ex-Stuttafords rentable area

Remaining space

Sandton City

8 008m2

1 879m2


8 343m2

3 432m2

Canal Walk

4 630m2


3 350m2

1 450m2

Rosebank Mall

2 473m2


Hyprop has been more successful in filling the 11 000m2 of space vacated by Stuttafords as the stores in three of its malls closed in May 2017, providing it with a head start to find tenants.

It says income for the six months to end-December 2017 was “negatively affected by construction work at The Glen, Rosebank Mall and Canal Walk and vacancies as a consequence of Stuttafords vacating Clearwater Mall, Rosebank Mall and Canal Walk in May 2017”.  

“Excluding the effects of the construction work and the Stuttafords vacancies, growth in distributable earnings from shopping centres was 5.2%” (versus like-for-like growth in distributable earnings (excluding properties sold) of 2.1%).

At Canal Walk in Cape Town, it replaced Stuttafords with H&M, which occupies the entire double-level space left by Stuttafords. The store started trading in mid-November 2017.

At Clearwater in Roodepoort, Mr Price (mrp) and Mr Price Sport moved from other locations in the mall to take up 1 900m2 of the space vacated by Stuttafords. The previous Mr Price premises (1 013m2) was let to Toys R Us. Hyprop says discussions are ongoing “with various tenants for the balance of the space”.

At the recently redeveloped and enlarged Rosebank Mall, just under 2 500m2 was vacated by Stuttafords.

This was subdivided and let to Standard Bank (1 500m2), Le Creuset (110m2) and Fabiani (360m2). Standard Bank moved from other Hyprop asset Cradock Heights (the offices on Cradock Avenue, adjacent to the mall). Hyprop says Absa will occupy the 940m2 ground floor area vacated by Standard Bank (next to Starbucks). Hyprop says “discussions with prospective tenants for the remaining 315m2” of the former Stuttafords space are ongoing.

Along with the reconfiguration of the Stuttafords space, it is expanding Rosebank Mall northwards (towards Cradock Heights). This extension will add 43 44m2 lettable area, with the two largest spaces being let to H&M (2 814m2) and Sportsmans Warehouse (1 092m2). These two stores will trade by the end of this month. Hyprop says 92% of the space has been let with offers sent to tenants for the balance (352m2) of the space.

Other sizeable stores left vacant by Stuttafords include at Gateway in Durban, Tyger Valley in Bellville (replaced by Zara earlier) and Menlyn Park in Pretoria. The Cavendish Square store closed in 2016.

Hilton Tarrant works at immedia. He can still be contacted at



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Hilton how come most of the space left open has now been filled but yet on the Libvety2degrees site it still shows a very negative comment on hyprop as well. This kind of info has a very negative impact on the share price . At least update the site and keep the investors informed.

End of comments.


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