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Increased police patrols in Burnley to tackle retail crime

Increased police patrols in Burnley to tackle retail crime
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Place North West | Preston's St George's falls into administration

David Thame and Place Newsdesk
Partners from professional services firm EY have been appointed as administrators to the 280,000 sq ft shopping centre owned by private equity firm InfraRed Capital Partners and others.
The administration came after InfraRed, which owns St George’s Shopping Centre in Preston together with its investors, defaulted on a loan secured against the asset.
InfraRed bought the shopping centre through its Active Fund III from Aviva Investors for £73m in 2015, as part of a clutch of shopping centre acquisitions during that time. The purchase of St George’s was supported through a loan from US-based lender Wells Fargo.

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