Frogmore Real Estate Partners has bought the 150,000 sq ft out-of-town retail park in Eccles from Kilmona Property, formerly known as PBN Properties, for £17.7m.
The retail park on Gilda Brook Road is made up of 15 retail units. Tenants include The Range, McDonald's, WHSmith and Next.
West One struggled during the recession and was largely vacant, with plans for a £30m Tesco Extra store were approved and then scrapped in 2013.
PBN bought the site in 2007.
Patrick Smith, director of acquisitions at Frogmore, said: "The retail sector is witnessing increased occupier demand on the back of greater consumer confidence and very low vacancy rates in the out of town retail sector. It was clear from the outset that West One Retail Park has great potential for Frogmore to reposition the park and capitalise on the recent successful letting to The Range, this provided us with a fantastic opportunity."
Westmount Real Estate, Curson Sowerby Partners and Staunton Whiteman represented Frogmore. Lambert Smith Hampton advised Kilmona.