McAleer & Rushe Speculatively Develops Major Project in Brighton
McAleer & Rushe has announced that a speculative office development in Brighton has been fully let ahead of completion in 2019. The Brinell Building is a newly developed 65,253 sq ft Grade A, seven-storey office building.
The Brinell Building achieved record rents for the city with each pre-let transaction, topping out at £32.00 per sq ft. Unity Technologies, the ApS video game development company based in San Francisco with a market cap in the region of $2.5 billion (May 2017), has become the final occupier to take space at The Brinell Building. The tech company, who will be the anchor tenant, has committed to 37,398 sq ft over the first to fourth floors on a ten-year lease.
Unity Technologies joins other standout occupiers including Diversified, the leading technology integrator delivering innovative digital media, broadcasting, electronic security and OTT solutions, which has pre-let 8,272 sq ft on the ground floor on a 15-year lease. As well as professional services firm Dehns which has pre-let the top two floors covering 18,514 sq ft on a 15-year lease.
Angus Monteith, Property Development Director at McAleer & Rushe, said: “McAleer & Rushe successfully developed CityView in 2016 and we saw the opportunity to bring forward additional office space to meet untapped demand in central Brighton. Our decision to speculatively develop The Brinell Building has been rewarded with 100% pre-lettings to a first class tenant line-up six months ahead of practical completion.”
Jack Riley, Associate, National Offices Knight Frank, said: “The Brighton occupier market has historically been underpinned by corporate giants like L&G, American Express and BUPA but the letting success at The Brinell Building highlights demand from the ever-expanding TMT sector. Brighton’s amenity offering coupled with a young, skilled labour force and growing tech sector is making it a hotbed for talent. With vacancy rates at an all-time low, speculative schemes providing Grade A office stock, such as The Brinell Building, are crucial for the continued growth of Brighton’s thriving business community.”
Based in Cookstown with offices in London, Dublin and Belfast, McAleer & Rushe employs 270 people throughout the UK and Ireland and celebrated 50 years in business in 2017. Knight Frank acted jointly with SHW for McAleer & Rushe and CBRE acted for Unity Technologies.
