11/8/2022 | Pharmacies

First-time buyer takes on independent Scunthorpe pharmacy

Specialist business property adviser, Christie & Co, has announced the sale of Ashby Pharmacy in Scunthorpe, North Lincolnshire.

Ashby Pharmacy in Scunthorpe

Ashby Pharmacy is a standard hours, high street pharmacy which dispenses an average of 7,636 items per month. It was purchased by Roshban Ltd in 2019 and has since undergone a rebrand and various improvements to enhance trading performance.

Roshban Ltd, which operates several pharmacies in the North West, recently decided to sell to concentrate on its other sites.

Following a confidential sales process with Christie & Co, the pharmacy has sold to first-time buyer, Tech Ding, who plans to adopt a hands-on role, allowing him to fine tune the business on the ground.

Yassir Sharief, Managing Director at Roshban Ltd comments, “Since purchasing Ashby from Lloyds in 2019, we have grown the business and improved some of the property elements of the unit, not least decreasing the size of the shop into one rather than two adjoining units with no detrimental effect to trade. When we instructed Christie & Co it was pleasing to see such a quick and highly competitive bidding process ensue. We are pleased that the business is now in the hands of a young and enthusiastic first-time buyer who I am certain will be successful in taking the pharmacy to the next level. We wish Tech and all the staff the very best for the future.”

Tech Ding comments, “Ashby is a well-located high street pharmacy in Scunthorpe, with an excellent customer base and a good level of dispensing activities. We have a bright plan for the business’s future; we aim to build on the existing successes of the business, and to introduce more services at the pharmacy to provide the best quality of care to the local population. I am extremely pleased to complete this acquisition and I am incredibly excited to see what the future holds.”

Jon Booth, Associate Director – Pharmacy at Christie & Co, who handled the sale, comments, “The speed at which we achieved competing bids in excess of the guide price on Ashby even took me by surprise. This is a perfect first-time buyer, owner-operator opportunity and I wish Tech the best of luck.

“Businesses of this type and profile almost anywhere in the North of England are sure to garner a great deal of interest right now. Despite the current macro-economics and headwinds facing the sector, the market for single-site pharmacies of this shape, size, and price remains incredibly healthy.”

Ashby Pharmacy was sold well in excess of the guide price.

For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Manager
P: 07540 063 598 or E: phoebe.burrows@christie.com

Contact the agent:
Jon Booth, Associate Director – Pharmacy
P: 07703 607 122 or E: jon.booth@christie.com

Visit Christie & Co’s Business Search page to find out more about current listings.