Brentwood Council said Childerditch Industrial Park did not meet the necessary requirements for a new council depot.
The 42.75-acre site in Warley, which provides 173,386 sq ft of industrial and warehouse accommodation, was bought by the council in February 2021 as a strategic asset.
The decision to sell the industrial park aligns with the council’s developing asset management strategy to maximise its benefit for taxpayers.
Joiner Cummings, the council’s agent, assisted with the sale, with advice from Birketts Chelmsford Commercial Real Estate Team.
No detail has been given on who has bought the industrial park.
But Councillor Gareth Barrett, chair of the assets, projects and strategy committee at Brentwood Council, said: “This sale will secure investment in the Childerditch site as the new buyers are in a position to take forward plans that will strengthen economic growth, job opportunities, and deliver a sustainable future for existing and new businesses.
“Our priority in managing our local assets is delivering value for money for our residents.
“This transaction represents a strong investment return to Brentwood Borough Council in under four years.
“This sale also demonstrates the council has invested prudently in assets where value is offered.”
Councillor Barrett assured that the council will continue its “carefully considered and sensitive asset management and investment approach” to secure value for money for residents and incentivise economic growth for local businesses.
Councillor Barry Aspinell, leader of Brentwood Borough Council, added: “This asset sale shows we are unafraid to make the big decisions that deliver for Brentwood businesses and residents.”
