Global investors, Schroder Real Estate Investment Trust, have acquired Stanley Green Trading Estate in Handforth, along with associated development land.
Altrincham-based Realty Estates instructed Avison Young to sell the site in November, with the Schroder paying a reported £17.25 million for the nine acre site.
Stanley Green Trading Estate comprises a total of 150,000 sq ft of warehouse and trade counter units on the edge of Handforth and Cheadle Hulme.
The development is fully let and current occupiers, who include Screwfix, Toolstation and Topps Tiles, are unlikely to be affected by the purchase, given Schroders strategy of acquiring and investing in income-generating assets.
The site also has historic planning consent for an additional 48,000 sq ft of warehouse and trade counter space. The Handforth trading estate is allocated as a site for industrial development in the Cheshire East Local Plan and it is expected that its new owners will invest in improved planning consent to expand the site further next year.