The home of the Midlands' largest Marks & Spencer has been sold for £53.6 million.
Birmingham-based property group St Modwen has offloaded the retail element of its regeneration project in Longbridge to Columbia Threadneedle Investments on behalf of Zurich Assurance.
The park comprises the huge M&S store and a string of other retail units with occupiers such as Sainsbury's, Boots, Poundland and Mountain Warehouse.
It forms part of the wider, £1 billion regeneration of the former MG Rover factory site to create new housing, employment, leisure and retail space, Bournville College, Longbridge Technology Park and a retirement village.
St Modwen said the sale of the shopping park would allow it to reinvest the proceeds into the continued regeneration of Longbridge which was now at the half-way stage.
Future planned phases include Longbridge Business Park, a final building on the technology park called Three Devon Way and a third supermarket aimed at a budget occupier.
Guy Gusterson, property director for the Midlands and North at St Modwen, said: "We are incredibly proud of Longbridge - it is a special place.
"We've created a vital, sustainable environment in the heart of the Midlands, where people want to live, work, relax and invest.
"We are only half way through the redevelopment of Longbridge and are committed to ensuring we deliver a legacy that we can all be proud of, recognising Longbridge's unique heritage and bringing forward a vibrant destination for the use and enjoyment of future generations."
