Midlands pharmacy group sells Chasetown branch to first-time buyer

Northwood Pharmacy is a standard-hour community pharmacy that dispenses an average of 9,300 items per month. It is located in the village of Chasetown in Burntwood, South Staffordshire, approximately five miles from Lichfield and Cannock.

The pharmacy has been owned by Northwood Dispensing Chemist Ltd for over 10 years and was brought to market to allow the group, which comprises six other branches, to focus on its larger volume pharmacies and its future growth.

Following a confidential sales process with Carl Steer at Christie & Co, and with funding sourced through Raj Patel at Christie Finance, the pharmacy has been purchased by first-time buyer, Nimesh Vansia.  

Carl Steer, Director – Pharmacy at Christie & Co, comments, “Multiple offers were received on this pharmacy, with a deal being agreed inside eight weeks, however, the chosen purchaser had a change of heart. The sale was swiftly re-offered to under-bidders, and a sale was agreed with Mr Vansia within seven days. Staffordshire has seen a flurry of sales complete in the last 12 months, and with more to follow soon, it is fair to say anyone considering a sale in the near future will be met with strong buyer appetite.”

Raj Patel, Senior Finance Consultant at Christie Finance, comments, “Nimesh and Hinal are both highly experienced Pharmacists, and an ambitious and motivated couple who have taken their time identifying the right pharmacy acquisition as their first step into ownership. It has been a pleasure to help them secure funding for this first project. There is lots of activity from first-time buyers to find the right pharmacy, and once a sale has been agreed, the various lenders do have the appetite to support these clients.”

Northwood Pharmacy - Chasetown was sold for an undisclosed price.

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