Rochdale Health Centre pharmacy changes ownership
Specialist business property adviser, Christie & Co, has announced the sale of Croft Shifa Pharmacy in Rochdale, Greater Manchester.
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Croft Shifa Pharmacy is a standard-hours health centre pharmacy dispensing an average of 6,400 items per month.
The business benefits from sharing a property with two GP practices, providing plenty of opportunities to increase the capture rate from the health centre and develop its dispensing activity.
Located on Belfield Road, the pharmacy sits in a high-density residential area of Rochdale, just 1.5 miles to the north-east of the town centre.
The pharmacy has been owned by group operator Kirandeep Cheema of Allcures plc, since 2021, and was brought to market following a strategic review of the group's portfolio.
Following a confidential sales process with Tom Young at Christie & Co with funding sourced through Alena Ray at Christie Finance, Croft Shifa Pharmacy has been purchased by first-time buyer, Hossiendad Hossieni of NHSR Limited.
Tom Young, Senior Business Agent - Pharmacy at Christie & Co, comments, “Greater Manchester continues to be a hotbed of activity for pharmacy transactions, with demand remaining incredibly high across the region from all buyer types. Croft Shifa Pharmacy presented a fantastic opportunity for a first-time buyer and operator to come into a pharmacy which has been run under full management for some time. Hossiendad recognised the potential of this well-positioned pharmacy and acknowledged he could improve the capture rate from the health centre which the pharmacy is integrated in. I have no doubt he will take the business to the next level and wish him the very best for the future.”
Alena Ray, Director - Christie Finance, comments, “It was a pleasure to assist Hossiendad with the acquisition of Croft Shifa Pharmacy. Securing funding as a first-time buyer can be challenging, particularly within the pharmacy sector, but we successfully arranged 85 per cent loan-to-value funding. Hossiendad’s expertise, dedication, and commitment to patient care make him exceptionally well placed to lead the business. I wish him every success in this exciting new venture and have no doubt that Croft Shifa Pharmacy will continue to thrive as a vital community asset under his ownership and supervision.”
Croft Shifa Pharmacy was sold for an undisclosed price.
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