M&G alights on CBRE's Leeds base

摘要

CBRE's Leeds headquarters, which was subject to a landmark rights-to-light dispute, has been sold to UK pension fund M&G Real Estate. Newbury-based investment manager Highcross has sold the 88,200 sq ft Toronto Square building in Leeds three years after completing development. M&G paid £29m for the property, which is let to 14 tenants. In 2010, the subsidiary of Highcross that owns the building lost a High Court battle against neighbouring property owner Marcus Heaney over a rights-of-light infringement and was ordered to take down around one third of the top two floors of the seven-storey block.