60-year-old Durham dental practice changes hands
Specialist business property adviser, Christie & Co, has announced the sale of Stoney Field Dental Practice in Durham.
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Stoney Field Dental Practice is a two-surgery, predominantly private practice which provides high-quality family dentistry to the local community of Stanley in County Durham. The business has occupied its current location for over 60 years and, in 2015, was bought by Dr Sebastian Pearey who has continued to improve on its enviable reputation and quality services ever since.
Following a confidential sales process with Christie & Co, and with funding sourced through Christie Finance, the practice has been purchased by first-time buyer, Dr Kenny IP.
Dr Sebastian Pearey, former owner at Stoney Field Dental Practice, comments, “I acquired the practice in 2015 as I was keen to take control of my own destiny, which is difficult to do as an associate. Over the last seven years, we partly refurbished the practice, modernised techniques and equipment, and employed a therapist and associates, all whilst retaining all original staff; the heart and soul of the practice. I decided to sell to pursue a career outside of wet-fingered dentistry and am pleased to be handing the practice over to Dr Kenny IP. I wish the business and staff all the very best, and I hope that patients continue to be well cared for and the practice continues to remain such a lovely place to work.”
Dr Kenny IP, new owner at Stoney Field Dental Practice, comments, “I have been a dental educational supervisor for six years and have 12 years of experience in the NHS and private dentistry, so I’m really happy to now be on the ownership ladder, and to have acquired Stoney Field as my first practice purchase. My plan going forward is to further expand the business by offering dental implants and composite bonding, to rebrand, and, hopefully, to form a future corporate with my sister who is a pharmacist.”
Olivia Allison, Senior Business Agent – Dental at Christie & Co, who handled the sale, comments, “Stoney Field Dental Practice is a fantastic family-run practice with so much potential to be taken to the next level by first-time buyer, Kenny. The practice is predominantly private with the benefit of a small NHS contract, and the sale is a great example of the demand we’re seeing for this type of practice right now. I wish both Seb and Kenny the best of the luck for the future.”
Alena Ray, Associate Director at Christie Finance, who sourced funding for the buyer, comments, “I was delighted to assist Dr Kenny in the purchase of his first practice – Stoney Field. Dr Kenny is a highly experienced dentist and has great plans for the practice going forward. I am confident Stoney Field will provide great service to the patients as it grows and I wish Dr Kenny all the best.”
Stoney Field Dental Practice was sold for an undisclosed price.
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Manager
P: 07540 063 598 or E: phoebe.burrows@christie.com
Contact the agent:
Olivia Allison, Senior Business Agent – Dental
P: 07702803356 or E: olivia.allison@christie.com
Visit Christie & Co’s Business Search page to find out more about current medical listings.