The future of £600 million Kirkstall Forge development will be unaffected by developers CEG entering administration, it has been confirmed.
As reported by Business Desk, Commercial Estates Group (CEG) has been placed in to administration following a recent shareholder dispute. It’s understood part of its management team are moving on to form a new company.
KRE Corporate Recovery has been appointed to oversee the administration process at CEG, which has offices in Leeds and London.
But a spokesperson from CEG today confirmed its flagship £600m Kirkstall Forge development will not be affected.
“CEG is an entity which provides management services to client companies and does not own any property assets,” a statement said. “The property-owning entities managed by CEG are unaffected. Therefore Kirkstall Forge is unaffected.”
In July, Kirkstall Forge hosted a public consultation ahead of fresh housing plans being submitted for the site, which had seen construction stall for a number of years. In June Banks Homes became CEG’s first joint venture delivery partner at Kirkstall Forge.
CEG said in July 2023 that the development had been ‘paused’ due to factors including the Covid pandemic and war in Ukraine.
The site currently features a commercial and office block and a train station.
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