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30/11/2018
Brighton Office Development Fully Let Ahead Of 2019 Completion
An ongoing office development in Brighton has secured its final occupant ahead of its June 2019 completion date.
The Brinell Building is a 65,253 sq ft Grade A, seven-storey office building being completed by McAleer & Rushe.
Video game development company Unity Technologies became the final occupant, joining companies like Diversified and Dehns.
The Brinell Building achieved record rents for the city with each pre-let transaction, topping out at £32.00 per sq ft.
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, added: "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."
(CM)
The Brinell Building is a 65,253 sq ft Grade A, seven-storey office building being completed by McAleer & Rushe.
Video game development company Unity Technologies became the final occupant, joining companies like Diversified and Dehns.
The Brinell Building achieved record rents for the city with each pre-let transaction, topping out at £32.00 per sq ft.
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."
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Jack Riley, Associate, National Offices Knight Frank, added: "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."
(CM)
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