Developer MEPC has sold Birchwood Park in Warrington as part of the £430m disposal of three UK business parks to funds managed by Oaktree Capital Management and Patrizia Immobilien.
The sale price represents an initial yield of 7.3%.
The 1.2m sq ft Birchwood Park was acquired alongside the mixed-use Chineham Park in Basingstoke and Hillington Park in Glasgow.
Birchwood Park is home to 150 companies across a 123-acre site. There are over 5,000 people employed there from a mix of large blue chip organisations and new start-ups.
MEPC purchased the 72-acre site from UKAEA in 1998, and began an extensive development of the park which included the construction of offices Cavendish Place and Bridgewater Place, a Ramada hotel, several industrial units and the refurbishment of Thomson House, Darwin House, The Centre and Chadwick House.
MEPC is owned by Hermes Real Estate.
Chris Taylor, chief executive of Hermes Real Estate and chairman of MEPC, said: "We are very pleased to confirm the sale of these three relatively mature estates, which have been well managed by the MEPC team for many years, at a point in the cycle when we are seeking to redeploy capital and invest into estates that will benefit from what we regard as the emerging growth sectors of the UK economy."
Hermes Real Estate was represented by JLL, while Strutt & Parker and Ryden acted on behalf of Oaktree and Patrizia Immobilien.