Pharmacy market insight 2026: Scotland

Image: Cameron Gibson for Unsplash

WHAT’S ON THE MARKET IN SCOTLAND? 

We currently have a range of independent pharmacies on the market, including two island locations on the Isle of Mull and the Isle of Bute, and a sizeable pharmacy group for sale in the north of Scotland. At present, there are no corporate pharmacy branches for sale in Scotland. 

We are experiencing a shortage of stock coming to market relative to buyer demand. Many owners aimed to sell before 1 April 2026 to avoid the increase in Business Asset Disposal Relief, which rose from 14% to 18% on 6 April 2026. However, sellers considering a sale now can take comfort from the fact that pharmacy values have increased this year, driven by growing buyer numbers and continued expansion strategies across the sector. 

APPETITE FOR PHARMACIES 

Buyer appetite remains strong in Scotland. A significant number of new owners entered the market in 2023, and many are now seeking to acquire their second pharmacy. This demand sits alongside that of well-established operators, including larger independent groups that have been acquiring pharmacies consistently for several years, some of which now own in excess of 50 branches. 

Demand is particularly strong in the main towns and cities across the Central Belt, as well as in the Aberdeen and Inverness areas. Over the last six months, we have sold or agreed deals on several independent pharmacies in Aberdeen city, Aberdeenshire, Angus, and Moray. These transactions have included sales to first-time buyers, as well as to two large independent group operators. 

Most established operators are prioritising pharmacies dispensing above 5,000 NHS items per month, as these businesses often deliver strong profitability even after accounting for the cost of a Pharmacist-Manager. First-time buyers, by contrast, tend to target pharmacies dispensing fewer than 4,000 NHS items per month, which are generally more aligned with their budgets. 

MARKET TRENDS 

A notable trend that we’re seeing in the Scottish market is the increasing number of contractors supporting younger, first-time buyers by providing a significant proportion of the deposit required to secure funding. In these arrangements, the buyer typically has the option to repay the investor after three to five years of ownership.  

This model proved effective during 2023 and 2024, when investors helped younger buyers acquire LloydsPharmacy branches, and we are now in the process of agreeing on several deals where investors are assisting first-time buyers in taking their first step onto the ownership ladder. 

To find out more about the pharmacy market in Scotland, contact Karl Clezy: karl.clezy@christie.com or 07885 813 160