Frogmore Real Estate Partners has acquired Altrincham Business Park from Schroders & Barlows for an undisclosed sum.
The park comprises 85,000 sq ft of pavilion-style offices; existing occupiers include Thermo Electron, National Grid Wireless and Jarvis Construction. The latest element to be completed was Edward Court, comprising 12 two-storey units totalling 54,368 sq ft.
Chris Betts, asset manager, Frogmore Real Estate Partners, commented: "We've been looking to expand our portfolio in the north once more with key investments such as Altrincham Business Park. The office development is well situated and is already within an established business area. We're confident in the out-of-town office market and look forward to the success of Edward Court."
Frogmore Real Estate Partners is a Limited Partnership fund, set up and managed by Frogmore Property Company, that closed in October 2006 with equity of £330m and a buying capacity of £1bn.
Edwards & Co advised on the purchase and has been appointed as joint letting agent with Savills.