Husband-and-wife duo acquire their first pharmacy in central London
Specialist business property adviser, Christie & Co, has announced the sale of Qrystal Pharmacy in Borough, Central London.
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Qrystal Pharmacy is a community pharmacy which dispenses an average of 5,500 items per month and provides a range of NHS and private services, including New Medicine Service, NHS blood pressure checks, seasonal flu vaccinations, and a private travel clinic. The business also benefits from basement treatment rooms, with the potential to build on its additional services offering, including ear wax removal and travel clinic services.
The pharmacy is located on Borough High Street in London, just 10-minutes’ walk from The Shard and three minutes’ walk from Borough underground station. The business sits in a prominent Zone 1 location and benefits from nearby redevelopment activity, including a 400-room student block behind the pharmacy and a new shopping centre at Elephant and Castle.
The business was brought to market by former owner Asif Qureshi as part of his retirement plans. Having owned the pharmacy for more than 15 years, he relocated the business to its current premises in 2022.
Following a confidential sales process with Mark Page at Christie & Co, and with funding sourced through Raj Patel at Christie Finance, Qrystal Pharmacy has been sold to first-time Pharmacist buyers, Manisha and Shrikant Galande.
Mark Page, Director – Pharmacy at Christie & Co, comments, "The pharmacy's location was a key factor in attracting interest, given its desirable position within the market. It occupies a fantastic corner position on a busy street with The Shard in the distance. There’s also a converted basement area with a number of treatment rooms to capitalise on the high passing foot-flow. I’m delighted for Shrikanth and Manisha and wish them both all the very best for their new venture."
Raj Patel, Senior Finance Consultant at Christie Finance, comments, “Our clients, both first-time buyers, sought our support to navigate the complexities of acquiring a pharmacy through Christie Finance. We successfully guided them through every stage of the process, culminating in the secure acquisition of their first pharmacy. This transaction is the start of an exciting growth journey as they look to consolidate their position and pursue further acquisitions in the near future."
Qrystal Pharmacy was sold for an undisclosed price.
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