Independent operator acquires second Glasgow community pharmacy
Specialist business property adviser, Christie & Co has completed on the sale of Buchanan & Campbell Pharmacy, a well established community pharmacy in Glasgow, to an independent operator.
Situated on the busy Dumbarton Road in the heart of the Partick area of Glasgow, the pharmacy is located around the corner from two surgeries and benefits from high footfall, despite having five competing pharmacies situated nearby. The pharmacy dispenses an average of 3,775 NHS items per month with a turnover of c. £670,000 per annum.
The pharmacy was previously owned by Bruce Sinclair, who is now seeking a well deserved retirement following a successful career in the pharmacy sector.
New owners and experienced operators, Gazenfer Ali and Arfan Ramzan, who also own Shawlands Pharmacy in the south side of the city, plan to mirror the success that they have had with their pharmacy in Shawlands.
Gazenfer Ali, who heads up Sales & Profitability, “When you put good customer service and professionalism ahead of everything, word soon gets around and this has resulted in the growth of our Shawlands business at break-neck speed. Partick was a natural acquisition for us as both of us grew up in the West End of Glasgow. The area is vibrant, cosmopolitan and a really exciting location, unrivalled in Glasgow and matched only by areas, such as in London. Glasgow University and the City Council are making substantial investments here and the site is directly opposite one of the busiest transport hubs in Scotland. We also purchased the shop premises, which are now like gold dust in the area. Our first job will be to give the shop a bespoke fit-out whilst getting to know our patients and then...well watch this space!”
Karl Clezy, Director at Christie & Co handled the sale and comments, “We placed the pharmacy on the market towards the end of November last year and agreed a deal just a week after to a Glasgow based independent operator. Start to finish, the sale completed in just 11 weeks. The sale of Buchanan & Campbell reinforces the demand generated and sale prices achieved for Glasgow pharmacies.”