A forward sale of a 170,000 sq ft development has been agreed between wealth management group St James's Place and the North West Development Agency.
The NWDA has disposed of the land on Thermal Road in Bromborough for the development of a distribution warehouse by Hampton Brook Estates, which is pre-let to logistics firm Great Bear Distribution for a period of ten years for an undisclosed sum with a fixed rental uplift in the fifth year.
The warehouse is opposite Cereal Partners factory in Bromborough and Great Bear currently has a contract to warehouse and distribute Cereal Partners products.
The warehouse is due to be completed by Hampton Brook Estates in December 2011.
The deal agreed between St James's Place and the NWDA was worth in excess of £8m.
Real estate fund management group Invista Real Estate Investment Management acted on behalf of St James's Place in the deal.
Platt and Fishwick represented the NWDA and DLA Piper represented St James's Place.
Property agents Legat Owen represented Great Bear and Hampton Brook Estates and Mason Owen represented Invista.
Law firm Howes Percival represented Hampton Brook Estates, while Eversheds represented Great Bear.