Tamworth pharmacy sold to seller's cousin as he steps down from ownership
Specialist business property adviser, Christie & Co, has announced the sale of Magrath Pharmacy in Tamworth, Staffordshire.
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Magrath Pharmacy is a standard hours community pharmacy that dispenses an average of 10,000 items per month. It sits within a busy health centre on Glascote Heath in Tamworth.
The business was established in 1971 and has been under the ownership of the Magrath family ever since. It passed on to the founder’s son, Andrew Magrath, in 2018, and was recently brought to market to allow him to focus on the clinical side of pharmacy.
Following a confidential sales process with Carl Steer at Christie & Co, Magrath Pharmacy has been purchased by Andrew’s cousin, Kieran Eason, who also owns Eason’s Pharmacy in Tamworth.
Carl Steer, Director - Pharmacy at Christie & Co, comments, “Andrew got in touch to start thinking about selling, as he had designs on spending more time on the clinical side of pharmacy and wanted to focus on other areas of interest within the sector. Within a short period of time, we were asked to market the pharmacy confidentiality and quickly attracted two offers, agreeing on a sale to Kieran within four weeks. The market remains buoyant for quality pharmacies in Staffordshire, with sales recently completing in the county and more to follow.”
Magrath Pharmacy was sold for an undisclosed price.
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