Prominently positioned in the centre of the village, the practice occupies three floors of a large, end terraced building and maintains five fully fitted and modern surgeries. High Street Dental was established almost 40 years ago and has been operated by the previous owner since 2000.
Dr Paul Banerjee, Principal of High Street Dental Practice decided to sell the practice in order to reduce responsibilities and comments, “Christie & Co was convinced that they would achieve a better sale price than their competitors by offering broader market exposure, including private equity. We received multiple offers, which exceeded the valuation on a 'best & final offers by' basis. I was extremely happy with the outcome and had excellent guidance from Jonathan Watson, especially in the early part of the negotiations, which was invaluable.”
The practice has been acquired by one of the associate dentists who has been working at the practice for many years. The previous owner will be staying on post-sale, making for a very smooth transition.
Jonathan Watson, Associate Director at Christie & Co, handled the sale and comments, “The interest received for this practice was staggering, demonstrating the strength of the Yorkshire dental market at present. We held a competitive sales process, which included the generation of 17 offers from a range of buyer types, many of which were above the guide price. It was refreshing to agree a deal to a current associate who knows the staff and practice very well. There will be little to no disruption to the practice and ultimately, it’s business as usual for High Street Dental.”
David McEwan of Schofield Sweeney Solicitors acted behalf of the vendor, and Daniel Gianferrari of O’Neill Patient Solicitors & NASDAL acted on behalf of the buyer.
Christie & Co sought offers in excess of £1,900,000 plus the freehold interest of High Street Dental Practice.