Warrington Borough Council said it added to its investment portfolio with the Warrington & Co led acquisition of Birchwood Park from Oaktree Capital Management.
The total value of the deal is understood to be around £200 million.
Birchwood Park is home to more than 150 companies across a business park comprising 123 acres that sits in an Enterprise Zone.
Birchwood Park is located at the junction of the M6 and M62.
About 1.2 million square feet of accommodation is currently let, with more than 6,000 people employed at the site.
“The acquisition represents a significant investment and development opportunity within a growing regional market,” said Warrington & Co.
“The council will seek to maximise on opportunities throughout the business park through continued investment and asset management initiatives.”
Patrizia, the current asset managers at Birchwood Park, will continue in their role.
The council was represented by Knight Frank while JLL acted for Oaktree.