10/30/2018 | Dental Practices

Dental practice in Tyne & Wear sold through Christie & Co

Specialist business property adviser, Christie & Co has completed on the sale of Garvey & Hicks Dental Practice, an NHS and mixed income dental practice situated in the metropolitan city of Sunderland in Tyne & Wear, to a regional multiple operator.

Situated in the residential suburb of Fulwell, the well established dental practice comprises three surgeries, following an extension and development programme, completed in 2000.

Previous owners, Paul Garvey and Stewart Hicks will remain at the practice as associates under the new ownership. Having owned and operated the business since 1991 and 2003, respectively, the two will be able to contribute their expertise and knowledge of the practice, as the new owner seeks to expand the revenue streams by offering further private treatments, as well as continuing to focus on NHS contract performance. 

Stewart Hicks comments, “From start to finish Paul at Christie & Co provided a first class service during the practice sale. We developed a very good working relationship and even had some laughs along the way. As a result, I would have no hesitation in recommending Paul and Christie & Co to any of my colleagues.”

Paul Garvey comments, “Having recently completed our practice sale with Christie & Co, I would have no hesitation in recommending Paul and the team at Christie & Co to handle your practice sale. Paul was always available to help navigate any difficult periods that inevitably happen during a sale. The marketing of the practice and the interest generated was very good, and the careful handling of the bidding process and advice given was always excellent, guiding us through to a successful completion.”

Paul Graham, Director at Christie & Co handled the sale and comments, “This practice had previously been on the market with another agent and had gone unsold. After agreeing a bespoke marketing plan we bought the practice to the market and achieved a considerable amount of interest in a very short amount of time. After just 4 weeks, we were in receipt of multiple offers of which one was successfully agreed.”

Garvey & Hicks Dental Practice was sold at the asking price plus the freehold property added at valuation.