Nabeel Chowdery’s Property Route has completed the purchase of 50-52 Bridge Street in central Manchester, as well as a building in Hale, Cheshire.
The company, which sold the Island site in Manchester for £15m earlier this year, has paid around £1.5m for the 4,450 sq ft Bridge Street building, which it plans to refurbish.
The seller was Wood Street Mission.
Number 50 is currently vacant, while number 52 is let to various office and retail tenants.
The building is close to the Freemasons Hall, which is due to be redeveloped.
Chowdery said: “Given its proximity to Spinningfields, the future sale of the nearby Masonic Hall and other improvement plans for Bridge Street, we anticipate an increase in demand for this size of office building in this location and expect to achieve between £55-60 Zone A for the retail units following refurbishment.”
The building in Hale extends to 2,200 sq ft on the village high street.
WHR Property Consultants advised Property Route.
WHR and Tushingham Moore are will act as letting agents.
Chowdery is the brother of Annel Mussarat, who recently acquired a series of Greater Manchester investments through his MCR Property Group, which was formerly known as Classic Homes.
Property Route was established in 1986 and has a portfolio worth £85m.
Its developments include Park 66 in Bury.
References: EGi News 14/11/06
