Busy County Durham village pharmacy sold to first-time buyer
Specialist business property adviser, Christie & Co, has announced the sale of Dipton Pharmacy in County Durham.
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Dipton Pharmacy is a standard hours community pharmacy that dispenses an average of 9,150 items per month and offers a range of additional services, such as Pharmacy First and blood pressure monitoring. It is located in the County Durham village of Dipton, close to Stanley, and benefits from its close proximity to the village’s GP surgery.
The pharmacy has been owned by Farah Chemists since 2010 and was brought to market as the group’s owners wanted to focus on their five branches in Newcastle.
Following a confidential sales process with Karl Clezy at Christie & Co, and with funding sourced through Christie Finance, it has been purchased by first-time buyer, Tammy Douglas, who will run the pharmacy hands-on as the Pharmacist.
Karl Clezy, Director – Pharmacy at Christie & Co, comments, “I am pleased to sell another Farah Chemist pharmacy to a first-time buyer, who I am sure will work hard to improve its offering, which will no doubt benefit the local village. The pharmacy’s dispensing volume - just less than 10,000 items per month – largely gained interest from first-time buyers due to its affordability, and is perfect for a new contractor to run it themselves.”
Craig Dickson, Director at Christie Finance, comments, “I was delighted to arrange the finance which allowed Tammy to secure his first pharmacy. The funding package secured was with a lender experienced in the sector and keen to support first-time buyers. Tammy is local to the northeast and had been looking to acquire a pharmacy in the area for some time, and viewed Dipton Pharmacy in County Durham as an ideal opportunity for him moving forward, where he can add value and support the local community.”
Dipton Pharmacy was sold for an undisclosed price.
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