Busy Leicester pharmacy sold to first-time buyer
Specialist business property adviser, Christie & Co, has announced the sale of St Stephens Chemist in Leicester.
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St Stephens Chemist is a standard hours community pharmacy that dispenses an average of 5,300 items per month. It is located on Fosse Road South in Leicester.
The pharmacy has been owned by Vinay Patel for over 25 years, and was brought to market due to retirement. Earlier this year, Christie & Co concluded the sale of his brother’s pharmacy by the same name also in Leicester, on St Stephens Road.
Following a confidential sales process with Carl Steer at Christie & Co, and with funding sourced through Raj Patel at Christie Finance, it has been purchased by first-time buyer, Piyush Patel.
Carl Steer, Director - Pharmacy at Christie & Co, comments, “Demand remains high for pharmacies of all sizes across Leicestershire, with some of the highest prices being paid in England, even keeping up with much of the capital. Demand far outweighs supply so once an opportunity arises, a deal is usually agreed within a few weeks.”
Raj Patel, Senior Finance Consultant at Christie Finance, comments, “It was a pleasure to help secure funding for ambitious couple Nehal and Piyush who teamed up with experienced owner Krunal to buy this pharmacy. Appetite is strong to lend from funders in the pharmacy sector, and with the appropriate guidance and help, we managed to secure good terms for clients who are delighted to finally complete and mark their own stamp on this pharmacy.”
St Stephens Chemist was sold for an undisclosed price.
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