9/25/2020 | Pharmacies

Apple Pharmacy in Edinburgh sold to first-time buyer

Specialist business property adviser, Christie & Co, is delighted to announce the sale of Apple Pharmacy in Edinburgh.

Apple Pharmacy is a community pharmacy located in an affluent area at the bottom of Broughton Street in Edinburgh’s popular city centre.

It dispenses a monthly average of 1,556 NHS items and boasts an annual turnover of circa £380,000. The site comprises a spacious sales area, dispensary, and a consultation room, with plenty of scope for expansion.

This sale offers a new buyer the opportunity to grow the business further, particularly by increasing the number of deliveries and putting a stronger focus on increasing the Core, National and Local Services income.
Previous owner, Rightdose Pharmacy, which owns another nine pharmacies across the UK, acquired the Apple Pharmacy brand along with seven of its pharmacies around five years ago, and has now decided to sell this branch. 

Founder and CEO of Rightdose, Mr Kasim Gulzar, comments, “I am delighted to have given the buyer the opportunity to further grow the business. It’s always inspiring to see first-time buyers investing in themselves and devoting their time to help the local community. I wish Douglas all the best. We will invest the money from the sale to continue our journey delivering the future of pharmacy across the UK.”

The business has been purchased by first-time buyer, Mr Douglas Lynn, who comments, “As a first-time buyer, I'm looking forward to the challenge of building up the business and realising the obvious potential of the pharmacy."

Karl Clezy, Director of Medical at Christie & Co, who handled the sale, comments, “The sale attracted a lot of interest from first-time buyers and independent operators alike. It is not that often a pharmacy comes onto the market in Edinburgh that is affordable for first-time buyers.”

Apple Pharmacy was sold off an asking price of £350,000.
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com

Contact the agent:
Karl Clezy, Director – Medical
P: 07885 813 160 or E: karl.clezy@christie.com