Standard Life Investments has sold the 120,000 sq ft out-of-town Greyhound Retail Park in Chester for £36m, to Aprirose Real Estate.
The retail park was put on the market earlier this year for an asking price of £38m.
Greyhound is fully let, to tenants which include Next, Boots, Dunelm, John Lewis and Oak Furnitureland.
The park was built in 1990.
Mason Partners represented Aprirose, while Montagu Evans advised Standard Life.