First-time buyer takes on budding Blackburn pharmacy
Specialist business property adviser, Christie & Co, has announced the sale of Chapel Street Pharmacy in Blackburn, Lancashire.
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Chapel Street Pharmacy is a standard hours community pharmacy that dispenses an average of 2,220 items per month. It is located on New Chapel Street, approximately two miles from Blackburn city centre.
The pharmacy has been owned by Anisa Munshi for 11 years, and was brought to market as part of her retirement plans.
Following a confidential sales process with Tom Young at Christie & Co, and with funding sourced through Alena Ray at Christie Finance, the business has been purchased by first-time buyer, Khalid Khan of Medicure Pharma Limited.
Khalid Khan, the new owner of Chapel Street Pharmacy, comments, “Having worked as a Pharmacist for many years, it has always been a desire of mine to acquire my own pharmacy business. I am passionate about community health and the vital role pharmacies play in people’s daily lives. By acquiring this pharmacy, my goal is to create a welcoming, patient-centred environment where individuals can access trusted advice, reliable services, and innovative health solutions in the local community. I would like to thank Anisa for the solid foundations she has built at the pharmacy and wish her all the best for the future.”
Tom Young, Senior Business Agent - Pharmacy at Christie & Co, comments, “Lancashire remains a real hotbed of activity for pharmacy transactions, and we received multiple offers on the business when we were in the market. Chapel Street Pharmacy presented a fantastic opportunity for a first-time buyer and operator to come into a pharmacy which has predominantly been run by a locum Pharmacist. Khalid recognised the potential of this well-positioned pharmacy and will no doubt take the business to the next level. I wish him the very best for the future here.”
Alena Ray, Director at Christie Finance, comments, “Khalid is a highly experienced Pharmacist, and it was a pleasure to assist him in the purchase of Chapel Street Pharmacy. Securing funding as a first-time buyer can be challenging, but while the transaction presented a number of complexities, we worked closely with him and the lender to manage the process efficiently, achieving completion within one month from the point of sanction. I wish Khalid and his team all the success in their new venture.”
Chapel Street Pharmacy was sold for an undisclosed price.
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