Caerleon Pharmacy in West Wales sold to growing operator
Specialist business property adviser, Christie & Co has brokered the sale of Caerleon Pharmacy in Cardigan, Dyfed, with funding secured through specialist commercial finance broker, Christie Finance.
The 40 hour community pharmacy is a long established business, which dates back to post the Second World War. The pharmacy is located on one of the main routes leading into Cardigan Town Centre and benefits from a high amount of walk-in trade as well as business from two health centres situated nearby.
The previous owner managed the business for 15 years and was looking to sell for retirement purposes. Second time pharmacy buyers, Gurvinder Sembhi and his wife, Jaswinder will be taking over the management of Caerleon Pharmacy and will be managing it alongside their other 40 hour contract pharmacy located in Essex.
Jonathan Board, Business Agent in Christie & Co's Bristol Office who brokered the sale comments, "When instructed to market this business by the owners Huw and Sharon Morgan, I was certain the interest shown in the business would be strong. It is not often that opportunities to acquire pharmacies of this substantial size come to the market."
The Husband and Wife team called on the assistance of Gary Boyce, Associate Director of Christie Finance to arrange the specialist funding needed to secure the pharmacy. Gary comments, "I was delighted to help these experienced pharmacy owners with their exciting plans to purchase a second business. Caerleon Pharmacy offers immediate opportunity for Gurvinder and Jaswinder to grow trade, where they will be supported by their son who’s following in their footsteps by currently studying to become a qualified pharmacist. We have seen a growth in funding requests from pharmacy buyers all across the UK, who are looking at Wales to purchase a business as it offers a safe haven from funding cuts."