Nottingham pharmacy sold to Pharmacist couple
Specialist business property adviser, Christie & Co, has announced the sale of Cox Pharmacy in Nottingham.
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Cox Pharmacy is a standard hours community pharmacy that dispenses an average of circa 7,000 items per month. It is located on Oakdale Road in the residential area of Bakersfield, a suburb east of Nottingham city centre.
The business has been owned by Harts Chemist Limited for over a decade. It was brought to market to allow the owner, Jackie Hart, to reduce her workload whilst retaining two other pharmacies.
Following a confidential sales process with Carl Steer at Christie & Co, and with funding sourced through Raj Patel at Christie Finance, the pharmacy has been purchased by husband-and-wife Pharmacists, Nathaniel and Angarju Amoah, who also own Jayplex Chemist nearby.
Carl Steer, Director – Pharmacy at Christie & Co, comments, “We were originally instructed by Jackie Hart to sell Cox pharmacy back in Spring of 2022, when a sale was swiftly agreed for the goodwill and freehold; however, due to personal reasons, the sale could not continue. Fast forward to July 2024, and we were instructed to revisit the marketing. Within 12 weeks, a sale was agreed leasehold to Amoah and Angarju, who had bought Jayplex Chemist just a few miles from Cox Pharmacy from me in October 2022. I wish them all the best with their new venture.”
Raj Patel, Finance Consultant at Christie Finance, comments, “Our clients, Nathaniel and Angarju, feel that this second acquisition gives them the ability to grow their business – they have consolidated on the first one, and now the second acquisition is a good strategic fit as both are in Nottingham. Their vision is to again consolidate the new pharmacy business post-acquisition and grow it. They have plans to acquire more in the future, and the banks are supportive of their vision.”
Cox Pharmacy was sold for an undisclosed price.
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For further information on this press release, contact:
Phoebe Hill, Associate Director – Corporate Communications
P: 07540 063 598 or E: phoebe.hill@christie.com
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