Burberry sells Leeds warehouse to CEG

Burberry has sold a former warehouse in Leeds to UK developer CEG as part of the luxury retailer’s plans to sell 10 acres of land in the city. CEG plans to turn the site into an office space which it plans to market in early 2021. The 82,193 sq ft 1953 Reality Building on Marshall Street currently lies vacant, situated on land that Burberry previously announced in 2015 would be turned into a new £50m factory. However, in summer last year, Burberry announced that it would be selling the land as it was “not suitable to support our plans”. David Hodgson, head of strategic development at CEG, said: “With a dearth of quality city centre office space in Leeds, it is our intention to swiftly appoint an architect to design a comprehensive refurbishment and provide a range of office floor space opportunities to the market in early 2021.” CEG also bought the Temple Works site located next to the 1953 Reality Building in December 2017. Burberry was planning to turn the Grade I listed building into a new weaving facility, but announced it had abandoned plans to do so in the summer of that year. Fox Lloyd Jones acted for the buyer and Cushman & Wakefield acted for the seller. To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette