Popular Essex pharmacy sold to first-time buyer
Specialist business property adviser, Christie & Co, has announced the sale of Southchurch Pharmacy in Essex.
Pictured: New owner Mr Rakesh Sareen (left), Mr Kirandeep Cheema of Allcures plc (right)
Southchurch Pharmacy is a standard hours, community pharmacy which dispenses an average of 4,600 items per month. The business enjoys a prominent position on a main road through Southend-On-Sea, Essex.
The pharmacy was acquired by Allcures plc as part of a group purchase in 2015 and was recently brought to market through Christie & Co as part of a corporate divestment.
The business has been sold to Mr Rakesh Sareen, a first-time buyer from South East London who is “very delighted to be the new owner of Southchurch Pharmacy.”
Mark Page, Director – Medical at Christie & Co, who handled the sale, comments, “The trend of lower-volume pharmacies moving back into independent ownership such as this is being witnessed more often in the market. Rakesh is experienced, motivated and excited about driving this pharmacy forwards and offering a wider range of services to the people of Southend. We wish him all the very best with this, his first venture into pharmacy ownership.”
Southchurch Pharmacy was sold for an undisclosed price.
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