Jensen Court Industrial Estate in Runcorn has been bought by Tilstone Estates for £1.625m, representing a yield of 9%.
The five-acre site is home to 43,568 sq ft of industrial accommodation and was purchased from Urban Waterside.
Colliers International advised Urban Waterside, which is a privately owned property developer and manager. Tilstone represented themselves.
Jensen Court has 14 fully occupied industrial units and has been comprehensively refurbished by Urban Waterside. Its tenants include Hire Station, A & A Glover Engineering, the Stearne Group, Pyrotherm, IAC and NBC Group.
Julien Kenny-Levick, director of industrial and logistics in the North West office of Colliers, said: "This sale to Tilstone Estates demonstrates that there is an increasing appetite from investors to acquire well let, multi-unit investments where rental growth is anticipated."