4/1/2021 | Pharmacies

Pair of popular Stirlingshire pharmacies sold to separate first-time buyers

Specialist business property adviser, Christie & Co, has announced the sale of a pair of popular Stirlingshire pharmacies to separate first-time buyers. Funding for one of the sales was sourced through Christie Finance.

The two pharmacies - trading as Killearn Pharmacy and Balfron Pharmacy – are community pharmacies with a combined dispensing total of circa 9,200 items per month. Both businesses lie completely unopposed in their respective villages of Killearn and Balfron, and benefit from being close to local amenities and community surgeries.

Killearn Pharmacy and Balfron Pharmacy were previously owned by brothers Mr Patrick and Mr Niall Corry who decided to sell to concentrate on their pharmacies in Northern Ireland. Patrick comments, “We were delighted to sell both pharmacies to two first-time buyers, giving someone the chance to own their own pharmacy in their own locality. This was important to both Niall and I, not forgetting we too got the chance when we started out. We wish Leila and Alex all the best.”

Killearn Pharmacy has been purchased by Miss Alex Stuart, who lives in the area, comments, “I’m very grateful to Paddy and Niall, Karl Clezy from Christie & Co and Scott Hutchison from Unity Bank for giving me this opportunity and their patience over the last few months. It really is a dream come true to own the pharmacy in the village where you grew up. I look forward to providing essential care to the local community alongside my staff for many years to come.”

Balfron Pharmacy has been purchased by LMS Healthcare Ltd. Speaking on behalf of the company, Director, Ms Leila McLaren, comments, “I have worked as the Pharmacist in Balfron Pharmacy for the last two years and when the opportunity arose to purchase the business I knew it was something I had to act upon.”

Karl Clezy, Director at Christie & Co who handled the sales, comments, “We received significant interest in these pharmacies from buyers keen to acquire one branch and also group buyers wanting to acquire them as a pair. Normally we see pharmacies of this value being sold to experienced operators and larger groups, but it was nice to see the owners accepting bids from two first-time buyers keen to own their first pharmacy.”

Craig Dickson, pharmacy finance specialist at Christie Finance, worked with LMS Healthcare Ltd to secure funding for the purchase of Balfron Pharmacy. He comments, “It has been a pleasure working with Leila, Director of LMS Healthcare Ltd, to acquire the pharmacy that she is already Pharmacist at and has been since February 2019. The opportunity was too good to pass up, particularly given that Leila lives locally and is an excellent position to drive the business forward. I wish Leila and the team all the very best for their future at Balfron Pharmacy.”

Killearn Pharmacy and Balfron Pharmacy were sold at undisclosed prices.

For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com

Contact the agent:
Karl Clezy, Director – Medical
P: 07885 813 160 or karl.clezy@christie.com

Contact Christie Finance:
Craig Dickson, Director – Christie Finance
P: 07713 061 621 or E: craig.dickson@christie.com