NABEEL CHOWDERY'S Manchester based property investment company Property Route has bought a nationwide property portfolio valued at £11.5m.

The move is the first sign of plans to expand the business beyond the company's roots in the north west.

It means Property Route will acquire Eastgate Properties' complete portfolio of 60,000 sq ft of office, retail and industrial buildings throughout England.

In the north west the portfolio includes 3,000 sq ft of commercial office space at Brunswick Street, Oldham.

The properties, occupied by tenants including Barclays and CGU Life Services, will provide Property Route with a rental income of £700,000 per year.

This is the first company acquisition for Property Route, which has traditionally invested in commercial and residential properties to rent in the north west and south east.

David Pelham, commercial property director at Property Route, said: "We've traditionally focused our attentions on the north west market, but as the company grows we are now confident in looking further afield and will continue to consider purchases in all parts of the UK."

Bank of Ireland has funded the deal, and Beachcroft advised Property Route.

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