The former premises of sheet metal products manufacturer Senior Hargreaves has been sold to a joint venture of Red Partnerships and Peveril Securities.
Senior Hargreaves, advised by surveyors Nolan Redshaw, sold the 96,000 sq ft unit on a 2.2 acre site on Lord Street, with planning consent in place for non-food retail.
The developer has signed pre-let agreements with three national retailers, the names of which will be announced shortly.
Paul Nolan of Nolan Redshaw said: "This is another good news story for Bury, after the successful launch of The Rock Scheme in July 2010. This scheme signifies to further success for the town."
The proceeds of the sale have already been partly reinvested in the town, providing new manufacturing facilities for Senior Hargreaves.
Nolan Redshaw acted for Senior Hargreaves and assisted in planning negotiations. Peveril Securities was represented by Red Partnerships.