McAleer & Rushe sells office block for £39m
A Co Tyrone-based construction firm has sold an office block in the south of England for almost £40m.
McAleer & Rushe has exchanged contracts to sell the Brinell Building in Brighton for £39m to property investment management firm Orchard Street.
The investment firm has purchased the building on behalf of St James's Place Property Unit Trust.
The building will comprise 65,253 sq ft of grade A office accommodation across seven floors.
It is due to be completed by the second quarter of 2019.
The development is now fully pre-let to three tenants: Unity Technologies, Diversified and Dehns.
Angus Monteith, property development director at McAleer & Rushe, said: "We are delighted to have exchanged contracts on the Brinell Building, which has proved extremely popular to both occupiers and investors.
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"The fact that it has been entirely pre-let eight months before completion illustrates not only the quality of the property itself but also of the wider Brighton office market, which continues to go from strength to strength."