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.
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.
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.
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.
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.
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 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.
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.
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.”
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.
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.
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,
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.
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.
The screen, required as a precaution to keep pupils at East Cliff Pre-School safe throughout the development works, was taken one step further by the Student Housing Company to offer a visual and engaging element for the children. The safety wall includes a gallery of the pupils’ artwork, as well as viewing windows to let the children check-in on how the development works are going.
Alex Piddington, Graphic Designer at the Student Housing Company, said:
The Student Housing Company is always looking for ways to work alongside the local community and we saw this is a fantastic opportunity to engage children; something that we don’t normally have the chance to do. We loved developing the creative element of the protective screen along with the pupils, staff and parents at East Cliff Pre-School and we can’t wait to see how the children interact with it over the coming months. There are certainly some talented young artists at the school, and hopefully the viewing windows might even inspire the next generation of architects and engineers!
Dominic Trainor, Contracts Director at McAleer & Rushe, said:
The creation of the hoarding on Holdenhurst Road is an exciting initiative which provides the opportunity for East Cliff Pre-School to showcase the talent of its children and to bring to life a construction project that will add a dynamic new dimension to the local area. A key commitment of McAleer & Rushe is being a good neighbour to the communities in which we operate, not only by ensuring that our sites are safe and secure but also by inspiring people through our projects and hopefully providing a platform for the next generation.
Beckie Capewell and Amanda Allison, Co-owners of East Cliff Pre-School Said:
McAleer & Rushe has been great throughout the whole construction process so far and has made it clear that the safety of the children and staff at East Cliff Pre-School was their top priority. We have had constant visits from the team to ensure we are happy with how the works are progressing and we are thrilled with the final mural on our side of the fence. The children will love to see their own artwork on display as well as enjoy peeping into the hidden viewing windows, helping them feel included as the building progresses. The children are looking forward to visiting the site itself and see first-hand a glimpse into how a building is constructed. Thank you to The Student Housing Company and McAleer & Rushe from all the team at East Cliff Pre-School.
Upon completion Belaton House will provide 403 student bedrooms, in a combination of three to eight bed apartments, ‘twodios’ and studios.
The event was officiated by Mike Gatt, General Manager with speeches by John Hennessey, Chairperson of Dalata Board of Directors, the Lord Mayor of Belfast, Nuala McAllister and by our very own Chairman, Seamus McAleer.
Representatives from key businesses in the city, dignitaries, corporate stakeholders and members of the public attended the launch event to a great success. Attendees were given a tour of the new hotel followed by a two-course sit down lunch in the Grain & Grill restaurant. All left with their bellies full and food for thought.
The site was handed over in March 2018 to the client, Dalata Hotel Group at 6 weeks ahead of schedule. The hotel has already operated with a successful occupation rate of 70% to 80% since it’s opening.
This all pays credit to the hard work and efforts by our Project Team and has continued to develop the Company’s relationship with our key client, Dalata Group.
We have two sites under construction for both the Maldron and Clayton brands, in Newcastle and Dublin respectively, with three further in the pipeline across major cities, Bristol, Glasgow and Birmingham.
The community arts engagement project is enabling Brighton’s children to develop a better understanding of their citizenship and local community through art and creativity. The primary school pupils have worked with Art4Space to develop the content of the artwork in the form of drawings, doodles, words and quotes, which will be displayed as an outside public gallery during the construction of The Brinell Building.
Commenting on the arts engagement project, Jonathan O’Neill from McAleer & Rushe said,
“I hope this initiative will encourage local young people to take an interest in the development of this building and during the next 12 months our hoarding will act as an outdoor exhibition space where local children and their families can proudly see their art on display. It was great to show the students around the site and provide them with a greater insight into the work that we do. Construction is a dynamic and exciting industry to work in and we are delighted to have been able to showcase this today.”
The Brinell Building, will comprise 7-storeys of Grade A office accommodation and views across Brighton and to the seafront from multiple roof terraces. The development is targeting a BREEAM ‘Excellent’ rating and includes amenities such as secure underground car and bicycle parking, electric car charging points, private changing booths and showers, a drying room and a double height reception.
Julie Norburn, director of Art4Space has been delighted with the artwork produced;
“I admire what the children have created around the theme of citizenship and the paintings will create a wonderful outside gallery for all to enjoy for many months during the construction of The Brinell Building. What a way to brighten up the streets!”
GSA expands portfolio, investing c. £80m to develop 950 student beds with contract awards to McAleer & Rushe
With the backing of GIC, Singapore’s sovereign wealth fund, Global Student Accommodation (GSA) has contracted McAleer & Rushe to deliver two state-of-the-art student residences on Lansdowne Road and Holdenhurst Road in Bournemouth, both of which are due for completion in time for the 2019/20 academic year and will bring over 950 additional student rooms to the town.
With excellent locations offering outstanding transport links to both Bournemouth University and Bournemouth Arts University, Bailey Point (Lansdowne Road) and Belaton House (Holdenhurst Road) are expected to transform expectations for student accommodation within the town. They will both be operated by The Student Housing Company, which was named Student Accommodation Operator of the Year in December 2017, and will offer residents access to stunning shared spaces including games rooms, communal study and cinema rooms, as well as secure bike storage and the latest laundry facilities.
Upon completion, the £47m Bailey Point will be a landmark high rise building on a site previously occupied by a Bournemouth University building and car park. The development will house 550 students in a combination of four to eight bed apartments and will offer access to a stunning sky lounge. As part of the works, highway improvements are also being undertaken.
Being constructed on land which was underutilised and included a retail store, the £36m Belaton House will provide 403 bedrooms, in a combination of three to eight bed apartments, ‘twodios’ and studios.
Commenting on this current development Dominic Trainor, Contracts Director at McAleer & Rushe, said:
We are delighted to work once again in close partnership with GSA following the completion of the Southampton and Portsmouth based schemes. There is a great spirit of teamwork and collaboration between the teams shaping these two very exciting projects which we look forward to seeing come to life in Bournemouth.
James Childs, UK Construction Director at GSA, said:
Having been planning these developments for over two year, it’s extremely exciting to see works start. At the peak of construction, we estimate that there will be in excess of 300 operatives working at Bailey Point and Belaton House, and 8 staff will be employed to operate each residence once they open in 2019. The vast majority of these vacancies will be filled by local workers.
Student accommodation is absolutely vital to students’ wellbeing, and at GSA we firmly believe that offering the right housing can make a real difference to students’ lives. We look forward to bringing our outstanding offering and service to Bournemouth come 2019. Supporting the local community is central to our ethos, and we will be transforming the streetscape as part of this project, as well as making a significant contribution to the already thriving local community.
Jim Andrews, Chief Operating Officer at Bournemouth University, which was involved in the Bailey Point project, said:
We were pleased to work with GSA and its predecessors on the planning for the Lansdowne Road development, and look forward to seeing these developments open in time for the 2019/20 academic year.
The £130m contract for second phase of South West Lands is on top of the £55m already awarded to McAleer & Rushe for Ph 1. Contract will see 553 new homes, including 114 affordable homes delivered. McAleer & Rushe also on site delivering Premier Inn taking contract value at Wembley Park to £212m.
Quintain has awarded McAleer & Rushe a major construction contract to deliver 553 new homes at Wembley Park. The £130m contract will see the delivery of the second phase of the South West Lands development, following the successful award of the first phase of works, worth £55m, which is due for completion by the contractor in Q3 2019.
Of the 553 new homes, 114 will be affordable, split between affordable rent and shared ownership. The remaining 439 will be rental homes managed by Quintain’s wholly owned build to rent operator, Tipi. Residents of South West Lands will benefit from a centralised ‘hub’ building – located only nine minutes by train from London Marylebone, as well as an onsite gym, library, resident’s lounge and concierge service leading out to a podium garden.
We are delighted to award this £130m contract to McAleer & Rushe who are doing an excellent job on the first phase of South West Lands. The award of this contract, which will deliver over 550 new homes, marks another important step in the delivery of Wembley Park as we continue its transformation into the UK’s most exciting mixed-use destination.
Eamonn Laverty, Chief Executive of McAleer & Rushe said:
Marking our largest contract to date, we are delighted to be here today celebrating the signing of the £130m deal for the second phase of South West Lands. This is our third contract with Quintain since 2016 and the project cements our partnership with them as a trusted member of their Main Contractors framework. The signing reinforces our position as one of the leading design and build contractors in the High End Residential and Private Rented Sector and we look forward to further involvement in the wider Wembley Park masterplan.
This news follows the announcement, made last year, that Quintain and Network Homes will be delivering an additional 252 new affordable homes at Wembley Park.
Knight Frank LLP and SHW have been appointed as joint-letting agents for the 65,000 sq ft new build office. The Brinell Building, designed to a Grade A office specification, comprises seven storeys and roof terraces with views across Brighton and the seafront. The development is targeting a BREEAM ‘Excellent’ rating and includes amenities such as secure underground car and cycle parking, electrical car charging points, private changing booths and showers, a drying room and a double height reception.
Angus Monteith, London Property Director at McAleer & Rushe said:
We are delighted to be underway with construction of The Brinell Building and we look forward to the building completing in January 2019. The 65,000 sq ft building is double the size of our last Brighton office project at CityView which was a real success. It was an easy decision to push ahead with construction when we have a well-designed building in a great location and the undersupply of the Brighton office market is seeing rents and values rise.
There’s been a dearth of good quality office stock in Brighton at a time when we’ve seen increased demand through an expanding workforce and a burgeoning residential offer. The Brinell Building is the first new build since Brexit and McAleer & Rushe has a track record for developing in Brighton after completing CityView in 2016 (32,000 sq ft), which leased to tenants on completion including Rocketmill, Ideal Networks and Unity Technologies.
The Brinell Building is in a prime location next to the station and its design will attract media and tech companies as well as appealing to financial and business occupiers. I forecast it to achieve record-breaking rents for the city and lease up ahead of completion in Spring 2019.
Brighton has a growing new digital, media and technology sector which has developed beside established corporate companies that include American Express, BUPA, Kimberly-Clark, EDF, Mott MacDonald and Lloyds Bank.
The Brinell Building sits in the heart of Brighton’s office district and is located only a three-minute walk from Brighton station which provides frequent trains to Gatwick Airport and Central London. Brighton’s buzzing independent coffee shops, retailers, restaurants and bars can be found just 50 metres away.
The 55,400 sq ft development located just north of Oxford Street close to the West End, Mayfair and Hyde Park is a luxury residential building totalling of 10 floors with seven of these above ground. The development comprises 23-units, incorporating roof terraces and features a 25-metre pool, gym, spa and treatment rooms, gardens and residents’ lounge.
The ‘Topping out’ marks the installation of the final piece of the structure as the building has reached its maximum height.
Jonathan O’Neill, Contracts Director at McAleer & Rushe commented:
“It is a great project to be associated with and our experienced team and partners have worked tirelessly to ensure this development contributes positively to its historic location and we’re pleased the development is now taking great shape.”
Ellen Hadden from DSDHA, the development architects added:
“At 9 Marylebone LaneDSDHA set out to create a building that is contemporary in its design yet draws inspiration from its historic surroundings. The complex geometry of the glazed terracotta echoes the Edwardian facades of the surrounding streets and has ensured the building reflects a strong sense of local identity, which captures the prestige of this address as a residential neighbourhood.”
“We are committed to ensuring that each of our developments become legacy schemes that are delivered to the highest specification, quality and attention to detail. I would like to commend the work and expertise of our partners as we look forward to the development coming to life and enhancing one of London’s most famous neighbourhoods.”