Warrington Borough Council has completed the £4m acquisition of a 1.5-acre site near the town centre.
The plot, which is opposite the £107m Bridge Quarter redevelopment project, includes a detached retail warehouse that has been subdivided to provide a retail unit and a fitness club with a swimming pool.
TLT advised the local authority on its investment.
The TLT team included real estate partner Andrew Glynn, real estate associate Edward Pitt and real estate solicitor Ellie Bennun.
Glynn said: "The regional property investment market is witnessing significant levels of activity from a range of local authorities, all seeking a better return on capital than is available from other sources.
"Warrington has been at the forefront of this trend and is actively seeking other similar opportunities."
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