CEG assets are sold to new group after financial losses

Assets belonging to property giant Commercial Estates Group (CEG) have been sold to a recently-formed associated company after the firm went into administration following successive multi-million pound losses.

- by Charles Brown

CEG, which is involved in several major real estate schemes in Yorkshire - including the Kirkstall Forge and Temple Works developments in Leeds - entered administration earlier this month with KRE Corporate Recovery appointed to lead the process.

It is understood there has recently been a shareholder dispute at the company, which employs around 120 people and has offices in London and Leeds.