House, which is located on the edge of Belfast’s Law Courts and opposite
Victoria Square Shopping Centre, has been purchased by a local private
property has planning permission for a mixed-use development which will offer
retail on the ground floor and high specification office space above.
could see 23,000 ft2 over seven floors with frontage onto both
Victoria Street and Chichester Street.
property is currently fully occupied by MTB Solicitors.
McShane, director at Lambert Smith Hampton, guided the sale process. He said:
“Chancery House represented a unique opportunity in that it is an income-producing
investment property with exciting development prospects. The prime location and
secure tenant means that it will continue to perform well as an office
investment but, if redeveloped, will attract significant interest from
of opportunities has been driving up prices for prime property and this trend
is expected to continue. Many property owners have postponed their decisions to
sell and the resultant stock-shortage is drawing strong bidding from active
investors who are keen to get their capital placed.”