New hands-on ownership for busy Preston pharmacy
Specialist business property adviser, Christie & Co, has announced the sale of Frenchwood Pharmacy in Preston, Lancashire.
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Frenchwood is a standard hours community pharmacy that dispenses circa 4,600 items per month.
It has been owned by ZS Retail Ltd for five years and was recently brought to market to allow the directors to pursue other interests away from pharmacy.
Following a confidential sales process with Tom Young at Christie & Co, and with funding sourced through Alena Ray at Christie Finance, it has been purchased by first-time buyer, Hamza Khan of HAK Locum Limited, who has worked as a locum previously. He plans to offer a hands-on approach as an owner-operator and expand the services on offer at the pharmacy.
Saif Valli, former owner of Frenchwood Pharmacy, comments, “Having acquired the pharmacy five years ago, it was a tough decision to sell but I believe we have found the right buyer to hand the pharmacy over to. I wish Hamza all the best for the future.”
Hamza Khan, new owner of Frenchwood Pharmacy, comments: “I am very pleased with my first pharmacy business and look forward to welcoming new and existing customers. I have been looking for a pharmacy for a while and Frenchwood seemed like a perfect fit from the moment I first saw it.”
Tom Young, Senior Business Agent – Pharmacy at Christie & Co, comments, “Lancashire remains a hotspot for pharmacy buyers, with a high demand from well-funded buyers. Operators in the county are keen to expand and there are many first-time buyers looking to acquire in the area. This business attracted strong interest, and we are delighted to confirm the sale to Hamza who secures his first pharmacy. I know he will provide excellent healthcare to the local community, and I wish him every success.”
Alena Ray, Director at Christie Finance, comments, “I am thrilled to secure a competitive funding solution for Hamza to acquire his first pharmacy. Healthcare is a buoyant sector, and I am supporting an increased number of first-time buyers entering the market. Hamza brings a fresh perspective and a strong commitment to maintaining the pharmacy’s legacy while introducing innovative solutions to continue serving the community. The acquisition of Frenchwood Pharmacy is a significant milestone for Hamza and I wish him and the team all the success.”
Frenchwood Pharmacy was sold for an undisclosed price.
For further information on this press release, contact:
Phoebe Hill, Associate Director – Corporate Communications
P: 07540 063 598 or E: phoebe.hill@christie.com