A 140,827 sq ft distribution facility on Daten Avenue, Birchwood, has been sold on behalf of Fujitsu Services to Tungsten Property Investment for an undisclosed sum.
The distribution warehouse is now let to Fujitsu Services, part of the Japanese information and communications technology giant, on a 10-year lease.
Julien Kenny-Levick, director, logistics and industrial at the North West office of real estate advisors Colliers International in Manchester, acted for Fujitsu Services and Tungsten was advised by KAP Property Consultants.
The transaction was undertaken on the basis of Fujitsu taking a leaseback on the property for 10 years on full repairing terms.
Kenny-Levick said: "Fujitsu was encouraged by the great level of interest shown in this investment opportunity and this further underpins the fact that demand for prime product let to good covenants remains very popular with investors."
The 12-metre high single-storey warehouse was constructed in 1997 and is adjacent to Birchwood Park, a 123-acre business park owned by MEPC. Occupiers include Norbert Dentressangle, DHL International, Walkers Crisps and Farm Foods.