Guernsey-based Jolivet Group has acquired Moorgate Point, an industrial site in Knowsley Industrial Park in Merseyside.
Jolivet has bought 398,700 sq ft of industrial accommodation, 37,000 sq ft of offices on 21 acres with an extra 6.3 acres of development land. The property was let to 10 tenants and produced a net income of £835,000 per annum. The property was marketed at £5.2m excluding the development land but is believed to have changed hands at around £3m.
Gary Scorah, investment partner at OBI Property, advised Jolivet.
The site was sold by Lloyds Banking Group, through administrators PricewaterhouseCoopers.
Simon Storer of the Jolivet Group said the firm will "continue to seek out further investment opportunities to increase our portfolio stock over the next twelve months and beyond."