McAleer & Rushe sells The Brinell Building, Brighton to Orchard Street for £39 million

Developer and contractor McAleer & Rushe has exchanged contracts to sell the Brinell Building in Brighton. The company is selling the speculative office development for £39 million, reflecting a yield of 4.75%, to Orchard Street Investment Management, who has purchased it on behalf of St James’s Place Property Unit Trust.

The Brinell Building is due to complete in Q2 2019 and will comprise 65,253 sq ft of Grade A office accommodation across seven floors. The development is fully pre-let to three tenants, Unity Technologies, Diversified and Dehns, which will all relocate from within Brighton city centre. The Brinell Building achieved record rents for the city with each pre-let transaction, topping out at £32.00 per sq ft, with all of the leases agreed for a minimum of 10 years.

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. 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.

Tom Chadwick, Partner at Orchard Street, added:

The Brinell Building is a prime addition to the portfolio and upon completion of the development the property will present a fantastic Grade-A office. We are very confident in the prospects for the Brighton office market given the extremely favourably supply demand conditions as illustrated by the 100% pre-let nature of the building.

Knight Frank acted jointly with Steerforth Partners for McAleer & Rushe and JLL acted for Orchard Street Investment Management.


Deloitte Announces Plans For New Head Office In Belfast

Heads of terms signed to become anchor tenant in new Bedford Square Development, which includes the historic Ewart Warehouse
New offices will be able to accommodate more than 1,000 Deloitte people
Deloitte expected to move in to offices in 2021

Deloitte announced today that it has selected Bedford Square as the location of its new head office in Northern Ireland.

Bedford Square Development

Deloitte will become the anchor tenant in McAleer & Rushe’s new development on Bedford Street, which is centred around the regeneration and refurbishment of the historic listed building formerly known as the Ewart Building.

Staff currently based at Deloitte’s other offices in the city will all move to Bedford Square and once completed the Belfast office will be Deloitte’s largest UK office by headcount outside of London.

Bedford Square, an £85m development project, is a 213,000 sq ft office development to be delivered by McAleer & Rushe which will accommodate over 2,000 people upon completion. It includes a modern new office building which will be linked to the refurbished and extended Ewart building on Bedford Street, a prime city centre location which has been unoccupied for some time.

The new Belfast office will accommodate all of Deloitte’s core business areas, including audit, tax and consulting and will also see a new state-of-the-art Deloitte Digital and Greenhouse space created in the Ewart building.

The vacant four-storey sandstone warehouse building was designed by James Hamilton for the Bedford Street Weaving Company and completed in 1870. The new development aims to regenerate the old warehouse building, respecting its heritage and the character of the exterior, while completely redesigning the interior.

Jackie Henry, senior partner at Deloitte in Belfast, said:

After a long selection process we are delighted to be able to announce the choice of Bedford Square as our new home in Belfast.

It is a symbol of Deloitte’s commitment to this city that we have chosen a development which will breathe life back into one of Belfast’s beautiful but neglected heritage buildings, contributing to the regeneration of the city centre while at the same time delivering an exciting and flexible modern work environment for our increasingly diverse and connected workforce.

She added: Deloitte’s operations have been growing rapidly over the past few years, driven by increased requirements for our services across traditional areas such as tax, audit and consulting, but also our wider expertise in exciting new areas such as digital analytics, cloud services, cyber security and robotics.

This new office will bring Deloitte’s expertise in Belfast together under one roof, which will foster even greater collaboration between teams and enable us to create a campus environment that is ideally suited to the agile and augmented jobs of the future.

This significant investment reflects our confidence in Belfast and its high-quality talent base. Based on our current growth projections we expect to have 1,000 staff in Belfast by 2022 and given that growth trajectory we have also made sure we have the option to increase the space to accommodate up to 1,250.

Deloitte will be taking up to 100,000 sq ft of space within the Bedford Square development.

Stephen Surphlis, Property Director in McAleer & Rushe said:

Securing Deloitte’s commitment is a significant milestone in the delivery of this strategic development which will bring economic activity to the heart of the City and surrounding local businesses.

We have already commenced works and upon completion the building will provide much needed grade A office accommodation for international and indigenous companies within Belfast’s prime office district.

The development will include comprehensive refurbishment and restoration of the iconic Ewart Building, returning it to its original splendour and giving Deloitte a high-quality office environment in this unique 150-year-old heritage building.

Deloitte supports our vision for the project and the contribution it will make to the Linen Quarter and the wider city and we are looking forward to working closely with them to develop their new headquarters.

The project will also aim to obtain the BREEAM excellent rating for sustainability.

Deloitte was advised on the transaction by Cushman & Wakefield, Belfast.


Topping out marks a major student accommodation project in Liverpool

Horizon Heights a landmark student accommodation project opposite Liverpool’s Lime Street station was the venue for a topping out ceremony on Wednesday 12th December to celebrate the final piece of structure being installed on the site.

(L-R) Dominic Trainor of McAleer & Rushe and Gary McIlwraith of Unite Students

The scheme which has been constructed by McAleer & Rushe on behalf of Unite Students, the leading provider of student accommodation in the UK, comprises 1,085 bedrooms across two blocks of 19 and 21 storeys.

The development has a mixture of cluster and studio flats with extensive communal areas and ground floor retail space, revitalising this prominent corner plot. Designed to BREEAM Excellent it also includes a detailed landscaping plan that will re-energise the public realm area and the pedestrian experience for the local community and visitors of the city.

McAleer & Rushe and Unite Students have a long-standing and successful partnership in place over many years.  The Northern Ireland based construction company has delivered a range of major schemes on prominent sites throughout the UK for Unite, including a 575-bed scheme in Falconer’s Court in Newcastle and a 579-bed scheme in St. Leonard’s Edinburgh. 

McAleer & Rushe and Unite Students

Commenting Dominic Trainor, Contracts Director, McAleer & Rushe, said, 

McAleer & Rushe is delighted to be part of the transformation that Unite Students are delivering for students’ living experiences across the UK.  Horizon Heights is another example of a development that is providing a safe, secure accommodation located adjacent to universities facilities in the heart of a thriving city.  We are looking forward to the completion of the project next year with students able to avail of the project’s outstanding accommodation facilities and further adding to the vibrancy of Liverpool city centre.

As part of Unite Student’s contract framework, McAleer & Rushe are currently in discussion with the student accommodation developer on future schemes and the further development of the successful partnership.

McAleer & Rushe Project Team

Commenting Gary McIlwraith, Development Manager, Unite Students, said

We are delighted with the performance of McAleer & Rushe and the project team and are very happy to have reached this important milestone. Our continued relationship with M&R is one of a collaborative and honest nature which ensures each project’s success. I would like to thank McAleer & Rushe for their professionalism and can do attitude in difficult conditions and I am sure there will be many projects in the future as Unite Students look to provide safe,secure and high quality homes for our students. Horizon Heights will be af antastic addition to the Unite portfolio and indeed to the Liverpool City skyline.


McAleer & Rushe lends support to bowel cancer research

McAleer& Rushe has announced that it has made a significant donation to Bowel Cancer UK to help fund the charity’s bowel cancer research grants programme.

There search focuses on three key themes: improving bowel cancer screening; the identification and surveillance of high-risk groups; and understanding bowel cancer in the under 50’s. 

Eamonn Laverty (Chief Executive of McAleer & Rushe), Deorah Alsina MBE (Bowel Cancer UK) & Seamus McAleer (Chair of McAleer & Rushe)

Deborah Alsina MBE, Chief Executive at Bowel Cancer UK, said:

“More than 42,000 people are diagnosed with bowel cancer each year in the UK and tragically over 16,000 people die every year.  We are determined to change that, but we can’t do it alone, which is why we are incredibly grateful to McAleer& Rushe for this wonderful support.”

“Donations like this enables us to pump prime research which will help us ensure in the future more people at high risk of the disease are identified and that more people have the opportunity to either have bowel cancer prevented or detected earlier.  Quite simply, McAleer & Rushe is helping us create a future where nobody dies of bowel cancer.”


Christmas… a time of giving

As the build up to the festive period begins it is easy to get swept up in the whirlwind of presents and commercial fanfare the Christmas season can bring. Christmas is a time for generosity and kindness, and it is difficult to comprehend there are so many children and adults who won’t receive a gift on Christmas morning.

Olivia O’Neill & Monique Croucher

Instead of the customary office Secret Santa, McAleer & Rushe staff decided to help make Christmas special for those who need it most in collaboration with the Road of Hope charity.

Road of Hope is a Northern Ireland based charity who help those who have been affected by conflict, internationally,nationally and locally. Their reach includes Hungary, Romania, Croatia, Bosnia and some African countries.

This year McAleer & Rushe participated in the organisation’s Christmas Shoe Box Appeal. Each member of staff became a Secret Santa to a child or adult in need, choosing toys and treats for a girl or boy of a chosen age group or elderly person.

The shoeboxes were collected on Wednesday 7th November and are well on their way to be distributed to underprivileged children and adults in Eastern Europe who wouldn’t normally receive any gifts,in time for Christmas.


Olivia O’Neill, Seamus McAleer & Monique Croucher

Thanks to theRoad of Hope organization, the season of giving can extend beyond your own family, friends and colleagues – All of us at McAleer & Rushe are thankful to share the Christmas spirit with as many people as possible which is what Christmas is all about!


The Brinell Building, Brighton, is fully pre-let as Unity Technologies signs-up

  • Record rent achieved for Brighton
  • Unity becomes latest tech occupier at new office development

The Brinell Building, a speculative office development in Brighton, has been fully let ahead of completion in June 2019. The newly developed 65,253 sq ft Grade A, seven-storey office building, is being delivered by developer and contractor McAleer & Rushe.

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 $2.5Bn (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.

Emma Lockey, Associate at CBRE, said:

We have worked alongside Unity for a number of years, advising on its original offices at CityView. We are delighted to have secured The Brinell Building for one of Brighton’s rapidly growing businesses in what is one of the largest office pre-lets for many years.

Knight Frank acted jointly with SHW for McAleer & Rushe and CBRE acted for Unity Technologies.


Continual progression with the concrete frame

Continual progression with the concrete frame

2 concrete frame is now fully completed.

Completion of Level 20 floor slab pour on Section 3. Level 19 structural steel frame has commenced on site. Installation of pre-cast stairs to Core 2 continues. Bathroom POD deliveries continue onsite. M&E trades continue onsite. Façade works continue to all elevations and brickwork commenced.

Skelhorne Street Liverpool – Newsletter November 2018

9th November 2018


Internal fitout is progressing well

Continual progression with the concrete frame.

Internal fitout is progressing onsite. Continual progression with the concrete frame. Level 15 slab has been poured in Section 1. Installation of Pre-Cast stairs to Core 2 continues. Level 16 in Section 2 has been poured. Bathroom POD deliveries continue onsite. Completion of Level 16 floor slab pour on Section 3. M&E trades continue onsite. Façade works continue to all elevations

Skelhorne Street Liverpool – Newsletter September 2018

13th September 2018


Internal fitout is progressing well

Internal fitout is progressing well

Continual progression with the concrete frame.

Continual progression with the concrete frame. Preparation for Level 13 slab formation in Section 1. Installation of Pre-Cast stairs to Core 2 continues. Level 12 in Section 2 has been
poured. Bathroom POD deliveries continue onsite. Completion of Level 13 floor slab pour on Section 3. M&E trades continue onsite.

Skelhorne Street Liverpool – Newsletter July 2018

11th July 2018


Demo Works begin

Demo Works begin

Demolition works begin on 4 star hotel development in the heart of the city just metres from St. Paul’s Cathedral

7th June 2018


Edinburgh’s New Waverley Marks ‘Topping Out’ of New UK Government Hub

Development Milestone Reached as Offices Housing 2,900 Civil Service Jobs in the Heart of the Old Town Nears Completion.

The new UK Government hub planned for New Waverley in the heart of Edinburgh’s Old Town has reached a significant milestone today (Wednesday July 4th) with the official ‘Topping Out’ of the office scheme set to be home to some 2,900 government workers.

The seven-level development, which comprises two interlinked office buildings providing almost 200,000 sq. ft. of ultra-modern Grade A office space, has now reached its highest point – an occasion marked by the UK Government and developers Artisan Real Estate Investors.

The UK Government announced last year that it will relocate 2,900 civil service jobs to the new regional hub by 2020 under the terms of a 25-year lease. This includes HMRC, which will operate one of its 13 regional centres from New Waverley. This will be the UK Government’s cross-departmental flagship Hub in Scotland, which will function as the Scottish base of several government bodies, including the Office of the Secretary of State for Scotland, the Office of the Advocate General, the Competition and Markets Authority, the Office for Statistics Regulation, the Government Actuary’s Department and HM Treasury. Staff from the Health and Safety Executive and the Information Commissioner’s Office will also be based here.

The new Government offices will offer the highest levels of sustainability and operational efficiency, and employees will benefit from a contemporary design with added staff amenities including a landscaped roof area providing sweeping views across the Waverley Valley,

Speaking at the Topping Out ceremony, Neil Richardson, Commercial Director, Government Property Agency said:

This new flagship building is part of our radical upgrade of the Civil Service, and will support a diverse and creative workforce as they make a real difference to the lives of people living in Scotland. The hub will provide high quality, skilled jobs right in the heart of the city centre as well as contributing significantly to the local economy. Alongside significant savings for the taxpayer, the roll-out of Government Hubs will provide modern working environments across the whole of the UK enabling us to provide the best public services we can.

Julie McHugh, Edinburgh Regional Implementation Lead, HMRC spokesperson added:

Locating HMRC to a new regional centre in Edinburgh in the New Waverley development is another step in HMRCs transformation into a modern, digitally advanced tax authority. This unique city centre location will bring our teams together to promote closer working relationships as well as increasing our effectiveness in collecting taxes.

The completion of the office hub will complete the cornerstone of New Waverley’s current development phase, which will see the high quality office space blend with restaurants, cafes and shops around the public plaza. Artisan’s £200 million, 7.5 acre mixed-use scheme seamlessly links Waverley Station with the city’s iconic Royal Mile, forming part of the Old Town’s UNESCO World Heritage site.

 

Welcoming the UK Government to New Waverley, Clive Wilding, Artisan’s project director, said:

Bringing the UK Government hub right into the historic heart of Edinburgh is a ringing endorsement for what we are building here – not just for New Waverley, but for the city of Edinburgh and for Scotland. It sends out an important message that our city centres have the interest, value and capacity to attract investment from the very best employers, setting an important precedent for Edinburgh and the rest of Scotland

For New Waverley, it’s another significant step of our journey to restore life, vitality and energy to this very special part of Edinburgh’s historic city centre, and will be a natural fit for the exciting and vibrant mixed-use community we are creating here.

People coming to work here will enjoy an unmatched working, leisure and living environment. On their doorstep will be one of Scotland’s major transport hubs as well as an eclectic mix of shops, hotels, cafes, bars, restaurants and homes in a location that reflects both the best of the city’s heritage and its future.

They will find that New Waverley is a genuinely unique destination in which to work, live and enjoy time out. This is a transformational development of a UNESCO Heritage site, in one of the world’s most iconic yet delicate locations. It’s pioneering the future, whilst preserving the past, representing a blueprint for sensitive yet positive city-centre regeneration.

Reaching the Topping Out stage of the office hub is also a significant milestone for New Waverley contractors, McAleer & Rushe, who are on target to complete the commercial phase by summer 2019.

Construction of the two interlinked office buildings totalling 230,000 sq. ft. brought its own particular challenges, including overcoming a 40 ft. gradient which runs from the Royal Mile down into the Waverley Valley. This means that both buildings are built into the side of the hill, with the ground floor access into the public plaza on one side becoming the building’s second level further down the slope.

The buildings have a significantly large concrete frame composed of 15,000 cubic metres of concrete, all of which was non pre-fabricated and poured on site. The facades of the completed buildings will be clad in the highest quality Stanton Moor buff sandstone to reflect the unique heritage and environment of their immediate surroundings.

Shane McCullagh, contracts director from McAleer & Rushe added:

This strategically important landmark building provides a spectacular focal point and destination for the wider New Waverley development. It’s a challenging development to complete, especially considering its unique location at the heart of Edinburgh’s UNESCO World Heritage site, but one that is being delivered on time, on budget and with the highest safety standards.

Now that we have ‘Topped Out’ the office buildings, the true mass, vision and scope of the entire New Waverley masterplan is now apparent, and it’s a fitting testament to our team on site and the whole development team that so much has been achieved in a relatively short timescale. We are appreciative for this opportunity in the ongoing partnership with Artisan and very much look forward to handing over the completed offices to the UK Government in 2019.

New Waverley’s office development was sold in October 2017 by Artisan to Legal & General, who secured the development on behalf of Legal & General Retirement which invests in high-quality long-term UK assets that generate income streams that match its commitments to pensioners.

The development has won three place-making awards in the last year – including best regeneration project for both the Scottish Property Awards and the Royal Institute of Chartered Surveyors (RICS). The scheme’s architects are Allan Murray Architects.

For more information about the progress at New Waverley, visit www.newwaverley.com


McAleer & Rushe recognised at the Irish Construction Industry Awards gala in Dublin

Northern Ireland based developer and contractor McAleer & Rushe has been awarded the prize for ‘International Project of the Year’ at the Irish Construction Industry Awards for Global Student Accommodation’s 1000-bed Catherine House scheme in Portsmouth.

The awards, now in their fifth year recognise companies which demonstrate excellence and innovation in Ireland’s construction industry. McAleer & Rushe competed against four other international companies to lift the award at the gala ceremony which took place at the Citywest Hotel in Dublin.

McAleer & Rushe was engaged as the design and build contractor by the global leader in student accommodation to develop the scheme through the entire evolution process. The project which was worth £50m completely transformed and extended the existing derelict 1970s landmark office building, Zurich House on Stanhope Road. The original structure was given a state-of-the-art refurbishment providing a 405-bed student accommodation along with the design and construction of an 11-storey new build extension delivering enough space for an additional 595 beds.

Commenting on the award Dominic Trainor, McAleer & Rushe Contracts Director said,

It is a great honour to be recognised by our peers for this project which further cements our position as leading contractors in the student accommodation sector. I want to pay tribute to our teams hard work and commitment and thank our client, GSA for entrusting us with the scheme. Carrying forward this collaborative relationship with GSA we have already begun work on two further projects in Bournemouth to deliver 950 student beds. We look forward to continuing to build this long-lasting relationship to deliver additional schemes across the UK and Ireland.

 

Tim Mitchell, GSA’s Global Head of Real Estate, said:

There’s no doubt that the development of Catherine House was one of our most ambitious projects to date, but we’re delighted with the results delivered by McAleer & Rushe. We’ve successfully brought 1,000 much-needed high-specification student rooms to Portsmouth and are proud to have given such an iconic building a second lease of life. Feedback from our residents living there has been outstanding!

Since 2014, the Irish Construction Industry Awards have become an established benchmark for contractors, businesses, teams and consultants in Ireland to demonstrate innovation and excellence within the built environment.