A DEAL for the sale of Birchwood Park has been agreed as part of a £430million investment.

It has been confirmed today that Oaktree Capital Management and PATRIZIA AG have completed a deal to buy three mixed use parks from Hermes Real Estate.

Managing director Jonathan Walsh says it will be business as usual.

The former MEPC site in Birchwood was put up for sale in May along with two other MEPC sites; Hillington Park in Glasgow and Chineham Park in Basingstoke.

Mr Walsh said: " It’s no surprise PATRIZIA AG spotted to the potential of Birchwood Park.

"For 16 years, we have been a prominent pin in the north west map and in recent years have become a challenger brand to Liverpool and Manchester city centres.

"We plan to continue to build on that position with new investment and development opportunities.

“With unrivalled amenities and a work-life ethos that inspires occupiers to take a fresh look at how the working environment can have a positive impact on business performance; Birchwood Park is at the forefront of future workplaces.

"How we work is changing and we are committed to leading the way, providing our occupiers with a workspace where they can expect more than just a building.”

The former MEPC sites join Winnersh Triangle, Reading and Watchmoor Park, Camberley in Patrizia's and Oaktree Capital Management's joint venture portfolio, which also owns a range of commercial property including offices and large mixed-use business parks. The joint venture is now one of the largest owners of business parks in the UK.

Jonathan adds: “Under the new ownership, the same high quality service level will remain and we are excited to welcome in a new era for the Park.”

More than 165 businesses employing 6,000 employees currently operate on the park and will not be affected by the sale.