The Claud Butler is almost certainly an Olympic Sprint as you suggest and the 523 number on the BB indicates 1952 March build. It is a top class frame with the long spearpoint, bilaminated lugs that were some of the best in the business at the time. The frame would have been fillet braised without any lugs then reinforced with the bilaminated lugs for extra stiffness. Wonderful craftmanship.
Is the rear bridge drilled for a brake caliper or is it purely a track bike expecting to have only the one brake? It is more than a bit risky on the road with only one brake caliper. It will have been built to take 27" rims (630) rims as opposed to more modern 700c (622) size. The latter may well fit but the 27" do look better if you can find some. There are plenty of good ones still around at cycle jumbles.
head lug feature cut pattern BOCAMA 30 serie
one would need view of front to determine specific model nr.
head lug nozzle cut is BOCAMA pattern /II
seat lug is BOCAMA pattern /II
fork crown is Vagner model Nr. DP
ends set is Campag Nr. 1010
housing stops appear to be NERVEX Ref. 871
cannot ID shell from image provided but note it appears to be full 68mm width; many Brit produced 68mm nomimal shells are manufactured underwidth at ~66.5mm. so it is possible shell may be of continental origin as with the remainder of the frame bits.
frame displays generous clearances. t'would be possible to run 27" wheels with mudguards and relatively large cross section tyres and yet have good clearance. if one chose to go to a 27" wheel it would be necessary to replace the rear brake caliper as it lacks the necessary four mm upward adjustment range for the pads which would be required.
---
kitting somewhat below calibre of frame but no reason cycle could not give pleasurable service as kitted
appears it may have been assembled into a cycle at the retailer or owner level