Latest commercial property news from Lambert Smith Hampton

Chancery House sold following competitive bidding process

24/03/2017

A prime property in Belfast city centre has been sold for a figure well in excess of its guide price of £1,450,000 following a competitive bidding process, indicating that demand for investment opportunities in Northern Ireland remains strong despite the ongoing uncertainty.

Chancery 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 developer.

The property has planning permission for a mixed-use development which will offer retail on the ground floor and high specification office space above.

Redevelopment could see 23,000 ft2 over seven floors with frontage onto both Victoria Street and Chichester Street. 

The property is currently fully occupied by MTB Solicitors.

Neil 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 potential occupiers. 

“A lack 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.”



For further information relating to this news article contact   or for press enquiries contact 

Contact us now

Neil McShane
Director - Capital Markets

028 9026 9205

Register for updates

Sign up today to receive these benefits:

  • Receive new property notifications
  • Save your searches
  • Access to the latest market reports
Register now

How can we help?

Submit