The Leeds office of Landwood Group sold the building, which is let to Magnet and owned by an offshore investor, on behalf of the Co-operative Bank, to Creative Conceptions for an undisclosed sum.
The 21,000 sq ft detached building is located at Grosvenor Court in Brunel Drive, which is just 500 yards away from the A1 at Newark in Nottinghamshire.
Simon Dove, associate director with Landwood and head of the company’s Leeds office, said: “We were instructed by the Co-op Bank as receivers earlier this year and have since explored all disposal angles.
“We also managed the property and carried out a marketing campaign resulting in this recent sale.
“This sale demonstrates the strength of the industrial property and warehouse market in the East Midlands, which is well served by its motorway network.”