CEG picks asset manager for new MD role

Matt Farrell has joined from Trophaeum Asset Management to head the 150-strong team at CEG and oversee a £2bn development pipeline.

Farrell spent nearly 12 years at Trophaeum, five of them as MD, and previously worked at Grosvenor and Invista.

He becomes the first MD at CEG and will report to founder and chairman Gerard Versteegh, as well as co-owner Andrew Woods.

CEG has offices in Leeds, Birmingham, Cornwall, and London. As well as the 10m sq ft pipeline, the company has £800m of assets under management, totalling 5m sq ft. The strategic land part of the business is a major supplier of sites to the housebuilding industry.

Farrell said: “CEG has a strong 35-year history of investment and value-add asset management, setting a benchmark for new regional office developments. Benefiting from a diverse portfolio, supported by a proactive strategic land team, there are many existing projects to bring to fruition. I’m also excited by the new capital we have to deploy, which comes at an opportunistic time in the market.”

Among CEG’s most recent developments are the Temple and Kirkstall Forge office projects in Leeds.

Versteegh explained: “Matt shares our vision for CEG and with his new ideas and energy he will pioneer new investment strategies. He will also support the team in progressing many exciting new developments, both within the new build and refurbished office sector we are known for, but also through the growth of our business space and strategic land portfolios.”