Belfast city centre offices sell for £4m

A reported £4 million sterling has been paid in a private deal for Londonderry House, a seven-storey office building developed in the 1970s at Chichester Street, close to Belfast City Hall. The 34,000 sq ft building with retail units on the ground floor is producing £301,000, indicating an initial yield of 7.1 per cent. Paddy Brennan, of Lambert Smith Hampton represented the purchaser and Pepper Angliss and Yarwood of London represented the vendor.