Christie & Co find new owners for Stockport dental practice for the first time in 15 years
Specialist business property adviser, Christie & Co has completed on the sale of 128 Dental Care, a mixed practice that has provided high quality family dentistry to patients in Stockport, Greater Manchester for more than 50 years with funding provided by commercial mortgage broker Christie Finance.
Prominently located near to Stockport School and Stockport Grammar School the practice operates from converted residential premises with surgeries situated on the first floor. This presents the incoming operator with the opportunity to add further surgeries to the ground floor, with local demographics supporting an increase in private fee income and the introduction of additional specialist and cosmetic treatments.
The practice was owned and operated for the past 15 years by Helen Lupson, who sought a sale in order to spend more time with her family. Helen comments, “It has been a great pleasure to own the practice for the last 15 years and I wish the purchasers all the success that I have enjoyed. Thank you to Jonathan at Christie & Co who helped to generate a number of offers and then worked hard to resolve potential issues as they arose.”
The purchasers of the practice are Nadeem Mohammad and Afaq Mahmood, experienced dental operators with a practice in North Manchester. 128 Dental Care is their second practice as they look to expand and acquire further practices across Greater Manchester. Nadeem comments, “Throughout the sale we received excellent service and support from a team of professionals who fully understand the process of buying a dental practice. I would highly recommend Jawad and Jonathan; they dealt with everything in the background while we carried on doing the job we love – dentistry!”
Christie Finance Director Jawad Anjum sought the finance required for the purchase and comments “It was an absolute pleasure to work with Nadeem and Afaq, following our initial meeting I knew working with the them would be a breeze. We got to work immediately, with the funding agreed quickly at market leading rates. I wish them all the best with 128 Dental, and I suspect we’ll be working together again in the not so distant future.”
Jonathan Watson, Director at Christie & Co handled the sale and comments, “Whilst some operators are experiencing challenges with recruitment and NHS performance, we are seeing no let-up in demand for well-located mixed practices such as 128 Dental Care. We were able to generate multiple offers for our client, from which she was able to select her preferred buyer to carry on her legacy.”
Helen Wong (Partner) at Clarke Willmott Solicitors in Manchester acted on behalf of Helen Lupson and comments, “It is always a pleasure to assist with dental transactions and it really is a collaborative approach. In this particular deal, Jonathan and Jawad were instrumental in the negotiation process and financial elements of the transaction. We wish Helen all the best and thank her for appointing us as her solicitors for the sale of the practice.”
128 Dental Care was sold on a freehold basis off an asking price of £700,000.