AN office development due to open this year has been sold for £39 million.

The Brinell Building is situated in the North Laine area of Brighton.

It has been sold by developer and contractor McAleer and Rushe to Orchard Street Investment Management, who has purchased it on behalf of St James’s Place Property Unit Trust.

The development is fully pre-let to Unity Technologies, Diversified and Dehns,

All are relocating from within Brighton city centre.

It will comprise 65,253 sq ft of Grade A office accommodation across seven floors.

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 tenyears.

Angus Monteith, property development director at McAleer and Rushe, said: “We are delighted to have exchanged contracts on the Brinell Building, which has proved extremely popular to occupiers and investors.

“The wider Brighton office market continues to go from strength to strength.”