A Greater Manchester retail park occupied by the likes of Lidl, Home Bargains and The Range has been acquired for almost £28m.
West One Retail Park in Eccles has been sold by Frogmore to M7 for £27.5m.
The fully-let site features 13 'big box' units and is also occupied by McDonald’s, Subway, The Food Warehouse, Jollyes Petfood Superstores, Pure Gym and Smyths Toys.
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Frogmore purchased the retail park in April 2015 when it was 50% vacant.
Senior asset manager at Frogmore, John Matthews, said: "Having seen the opportunity to reposition West One from a fashion retail park to a discount retail park, we attracted big name retailers.
"Bringing in complimentary businesses, including Pure Gym, a dentist practice and a chiropractic service brought the park to full occupancy."
Frogmore's portfolio includes the likes of Notting Hill Gate Estate, London, Cotton Quay, Salford Quays, and Stratford Shopping Centre, London.
Tim Allibone, director of asset management at Frogmore, added: "We were delighted to have worked with M7 on this transaction, which is the fifth disposal within Frogmore’s Fund III.
"Having met all the milestone objectives of the Business Plan, it was the right time to realise this asset."
M7 asset manages more than 570 assets in the retail, office and industrial sectors on behalf of its investors across Europe with a value of c.€4.3bn.
Hamish Whiteman of Staunton Whiteman acted on behalf of Frogmore.
Paul Wilkinson of Avison Young acted on behalf of M7.
