MCR Property Group has paid CBRE Investors £2.6m for a 51,000 sq ft distribution depot in Chester occupied by Boots on a 20-year lease.
Mark Hayes, investment director of MCR, said: "This was without doubt a sound investment for us; in a tightening market we have demonstrated our ability to make significant investments. We are actively looking for more investment opportunities and hope to make further announcements over the coming weeks."
The premises on Sealand Road, a popular retail warehouse location, is a detached, single storey, distribution warehouse, with two site entrances, eight loading bays and office accommodation.
Simon Wood, investment director at of CB Richard Ellis, which represented MCR, added: "Chester West Employment Park is an excellent quality building on a significant site fronting onto Sealand Road. The building is in the heart of a vibrant mixed-use area, made up of a large number of high value users and only a short distance from Chester city centre.
"In tough market conditions, this deal shows that investment transactions are still happening in the North West particularly with more established investors."