2/9/2018 | Dental Practices

New team onboard after Sherwood House Dental sale

​Specialist business property adviser, Christie & Co has brokered the sale of Sherwood House Dental Practice in Loughborough, Leicestershire with funding secured through specialist commercial finance broker, Christie Finance.

Sherwood House Dental Practice near Loughborough Town Centre has been looking after NHS patients for over 75 years. The business is situated over three floors with two ground floor surgeries. The previous owners are looking to retire but will remain to assist with the transfer for a short time.

The new practice owners, brothers Amit and Dipak Parmar were looking for a practice which they could jointly own and run. Amit's wife will join them at the practice, with all three sharing responsibilities while also looking to introduce private dentistry at the practice.

Carl Steer, Director at Christie & Co who brokered the sale comments, "After many years in ownership Drs Norris were keen to find a swift exit to retirement, whilst also ensuring that their patients and staff would be in good hands. We progressed to market the practice, attracting more than a half-dozen viewings and offers, allowing us to choose the ‘right’ buyer. Being an already established practice owner in the town, we felt the Parmars would take the practice on to the next level and keep it in good hands for many years to come.’’

Specialist business funding was required to undertake the sale and the help of Senior Director, David Ward at Christie Finance was enlisted to arrange the funding to facilitate the change in ownership at Sherwood House Dental Practice. He comments, "I was delighted to help Amit and his family with funding to help take over this practice. Sherwood provides a great established business to build on and, with our expertise, we were able to handle the whole funding process while they worked in their other practices. It will be exciting to see the business develop and thrive."

Amit Parmar said of the deal, "I can honestly say, you get what you pay for, David is absolutely fantastic. David justified every pound spent and saved us approximately four times his fees by renegotiating the transaction value following some clever negotiation. Day and night, he was just a telephone call away and he made the whole process a breeze.  He couldn’t do anything more - except come and run the practice for us but I think I might be asking too much! I wouldn’t go anywhere else again."