Tyrone firm’s new Brighton project fully let ahead of completion

Fully let: the Brinell Building CO TYRONE company McAleer and Rushe has announced it has fully let out a new £15.8m office building in Brighton ahead of its expected completion next year.

The building contractors said the seven-storey Brinell Building — which it has developed in a speculative project — had achieved record rents with each transaction, topping out at around £32 per sq ft. The project is due to be finished in June next year.

In the latest deal, San Francisco video game development company Unity Technology, worth an estimated $2.5bn, is now anchor tenant after taking on four floors on a 10-year lease.

It’s McAleer and Rushe’s latest office development in Brighton, after finishing work on CityView.

Angus Monteith, property development director at McAleer & Rushe, which is based in Cookstown, 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.”

Other occupants to have signed up include professional services firm Dehns and tech company Diversified.

Earlier this year design and build company McAleer and Rushe Contracts UK reported sales of £334m for 2017, up from £242.9m a year earlier. Pre-tax profits were also up from £10m to £13.4m, while staff numbers grew from 271 to 300. The company was also the developer behind Belfast’s new Maldron Hotel on Brunswick Street.