New partner for Glasgow dental practice
Specialist business property adviser, Christie & Co has sold one fifth of the expense sharing partnership of Chartwell Dental Care in Bearsden, Glasgow, on behalf of the principal partner, to an experienced operator.
Established in 1963, the mainly private dental practice occupies the ground and first floors of a two storey, mid terraced period property and boasts seven modern and well equipped surgeries.
Principal Partner Stephen Foster first joined the practice in 1992 and has now decided to pursue retirement. Mr Foster comments, “I needed to sell my share in a multi-partner practice – a very niche transaction. Paul at Christie & Co led me through the process of marketing the practice, making the whole thing as stress free as possible. We achieved a good price with minimal hiccups along the way thanks to his professionalism.”
The new Co-Principal, will work alongside the remaining four partners to develop and grow the business further.
Paul Graham, Director – Medical at Christie & Co handled the sale and comments, “To sell one fifth of an expense sharing partnership was quite a daunting prospect. The strength of the market allows most buyers to fund 100% of an acquisition. However, given the tremendous aspects of this business such as location, fitout, profitability and enviable reputation, there was a no doubt in my mind that with a successful marketing campaign applied to the sale, we would see a positive outcome. In the end, it was very much the case that an equally deserving buyer was found.”