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17 October 2018 | Pharmacies

Two pharmacies in the east of England find new owners through Christie & Co

Specialist business property adviser, Christie & Co has completed on the sales of Newport Pharmacy in Newport, Essex and JG Clifford Dispensing Chemist in Godmanchester, close to Huntingdon, Cambridgeshire. The two businesses, which reside in neighbouring counties, were previously both owned by one operator before being sold as separate assets.

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Newport Pharmacy trades from a Grade II listed building in a prominent position on the village’s high street and is ideally located close to the Newport Surgery. 


 
Situated just south of Huntingdon in Cambridgeshire, JG Clifford Dispensing Chemist sits on the main road in the town of Godmanchester and is conveniently placed amongst other retail businesses and close to the local surgery. Fitted out to a high standard, the pharmacy occupies a Grade II listed property with parking available on the street or next to the site, creating easier accessibility for customers. 


 
Previous owner, Mr Patel decided to sell the two pharmacies as he wanted to reduce his workload and spend more quality time with the family. He also has another pharmaceutical business which he is now looking to focus on and develop further. He comments, “We are delighted with the completion of both pharmacies on the same day to different buyers. Christie & Co helped us get through the lengthy process with confidence.”

Mark Page, Director at Christie & Co who handled the sales, comments, “These two sales demonstrate the continued desire for pharmacy businesses and interest in the sector. We wish our client Mr Patel the best of luck with his future ventures and I am sure that the pharmacies will go from strength to strength in the hands of their new operators.

“Pharmacy businesses in small town settings are increasingly valuable as they are often the only service provider in the area and are well placed to cover all the needs of the local community and to work harmoniously with the local doctors’ surgery.”

Newport Surgery was sold off an asking price of £395,000 for the leasehold interest and the freehold interest of JG Clifford Dispensing Chemist was sold for an undisclosed sum.