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28 September 2020 | Pharmacies

Pair of popular pharmacies in Cambuslang sold for the first time in 23 years through Christie & Co

Specialist business property adviser, Christie & Co, is delighted to announce the sale of a pair of pharmacies in Cambuslang, Glasgow, which have been owned by Leslie Doherty Limited since 1997.

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The pharmacies, both trading under the fascia ‘Leslie Chemist’, dispense a combined monthly average of circa 20,000 items per month and boast impressive profit margins.

They are located on the same road, just 175 yards apart, in the town of Cambuslang, on the south eastern outskirts of Glasgow. Cambuslang is in the local authority area of South Lanarkshire and directly borders the town of Rutherglen to the west.

The two Leslie Chemists have been owned by Leslie Doherty Limited since 1997, and were recently sold to allow the owner, Mr Michael Doherty, to retire.

Mr Doherty, who worked daily at one of the pharmacies for many years, comments, “We are delighted that the sale process was very straightforward and extremely quick as we wanted to minimise any inconvenience for our wonderful staff who have been so committed and loyal to the business for many years. Christie & Co managed the process well and achieved a price we were very happy with.”
 
The businesses have been sold to Mr Stephen Dickson of J & J G Dickson & Son Ltd., who comments, “It is a wonderful opportunity to keep such a long family legacy going. Both directors live within walking distance of these stores, so it was an easy decision to make the acquisition. We now have 10 pharmacies, after some other recent acquisitions. It feels like a good time to expand. We are excited for the future.”
 
Karl Clezy, Director of Medical at Christie & Co, who handled the sale, comments, “This was an excellent and rare opportunity to acquire two pharmacies in Cambuslang on the outskirts of Glasgow.  The pharmacies were trading very well, which is a testament to the hard work Michael and his family put in over the last 23 years.”

The pharmacies were sold off a combined asking price of £5,500,000. 


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 E: karl.clezy@christie.com