Administrators appointed to shopping centre portfolio
Administrators have been appointed over three companies within the Frogmore group whose assets comprise Broadwalk Shopping Centre in Bristol, Port Arcades Shopping Centre in Ellesmere Port and Belle Vale Shopping Centre in Liverpool.
The centres will continue to trade as normal whilst administrators Arron Kendall and Simon Thomas of Moorfields Advisory develop a disposal strategy.
In a statement Moorfields said the administration follows the borrower’s failure to repay loans when due.
The Broadwalk Shopping Centre in central Bristol spans 221,000 square feet and has over 70 units and a multi-storey car park.
Port Arcades Shopping Centre in Ellesmere Port occupies 346,000 square feet with over 60 retail units and car park for over 1,000 cars.
Meanwhile, the 278,000 square foot Belle Vale Shopping Centre in Liverpool mainly operates as a convenience and discount led centre with over 60 units and a multi-storey car park.
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