The Isle of Islay’s only pharmacy sold to South Shields couple
Specialist business property adviser, Christie & Co, has announced the sale of Islay Pharmacy on the Isle of Islay.
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Islay Pharmacy, a quaint community pharmacy that dispenses an average of 3,600 items per month, is located on the main street, Bowmore, on the Isle of Islay, the fifth largest Scottish island and the southernmost island of the Inner Hebrides of Scotland. It single-handedly serves the island’s population of circa 3,200 residents.
The pharmacy has been owned by small group operator, Sanjay Majhu, since 2018, and was brought to market alongside Inveraray Pharmacy and Tarbert Pharmacy to reduce the size of his estate.
Following a confidential sales process with Karl Clezy at Christie & Co, it has been purchased by husband-and-wife team, Lisa and Simon Simpson, who relocated from South Shields as they wanted to have a total lifestyle change and love living and working in the Scottish Isles.
Sanjay Majhu, owner of Islay Pharmacy, comments, “We acquired Islay Pharmacy in April 2018 and grew turnover from £530,000 to just under £700,000. We decided to sell as our strategy was to acquire only within a 100-mile radius of Glasgow and Islay would be more suited for owner-operators. Lisa and Simon were the perfect candidates for this deal. We still plan to invest in community pharmacy moving forward and look for potential partners who want to get on the ladder.”
Lisa and Simon Simpson, new owners of Islay Pharmacy, comment, “Having worked hard throughout the covid pandemic, we decided we needed a change of direction in our careers. The next logical step for us was to become pharmacy contractors. We love Scotland and when we saw that Islay Pharmacy was for sale we contacted Sanjay. He was brilliant to deal with and we now have our future as part of the welcoming community of Islay.”
Karl Clezy, Director – Medical at Christie & Co, comments, “It was a pleasure to sell this island pharmacy for the second time in six years. It is not your typical pharmacy sale as most buyers for island pharmacies tend to come from England looking for a lifestyle change. I am sure the new owners will provide a great service to the local community and the Island’s many visitors, and that they enjoy running the pharmacy on a hands-on basis.”
Islay Pharmacy was sold for an undisclosed sum.
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For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Manager
P: 07540 063 598 or E: phoebe.burrows@christie.com
Contact the agent:
Karl Clezy, Director – Medical
P: 07885 813160 or E: karl.clezy@christie.com
Visit Christie & Co’s Business Search page to find out more about current medical listings.