Trio of northern pharmacies at risk of closure to remain open following sale
Specialist business property adviser, Christie & Co, has announced the sale of three pharmacies - located in North Yorkshire, West Yorkshire and Lancashire - to independent buyers.
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The group comprises Gargrave Pharmacy in Skipton in North Yorkshire, C.E Naylor Pharmacy within Rastrick Health Centre in Brighouse in West Yorkshire, and The Village Pharmacy in Nelson in Lancashire. Together, they dispense an average of 13,215 items per month.
The pharmacies were previously owned by Adrian and Clare Naylor who, in wanting to retire, were considering closing the branches.
Following a confidential sales process with Tom Young at Christie & Co, and with funding sourced through Christie Finance, C.E Naylor Pharmacy has been sold to first-time buyer, Aneela Raja of AS Clinics Ltd, who owns her own health clinic, Gargrave Pharmacy has been sold to first-time buyer, Qashif Ahmed, and The Village Pharmacy has been sold to Vivake Bhatia and Erez Bar-Ilan of BMT Healthcare North Ltd, a small multiple operator which now has eight branches in its portfolio.
Tom Young, Senior Business Agent – Pharmacy at Christie & Co, comments, “When Adrian and Clare first approached us, they were contemplating closing their three pharmacies, believing there wouldn’t be much of a market for them due to the ongoing cost pressures facing the pharmacy sector. We assured them that we could generate interest for all sites on a confidential basis. Leveraging our expertise and market insights, we conducted a competitive bidding process that garnered multiple offers on each of the three branches, effectively demonstrating the continued demand for pharmacies across the north of England. Our commitment to a discreet and efficient process ensured that Adrian and Clare’s businesses were successfully transitioned to enthusiastic new owners.”
Alena Ray, Director at Christie Finance, comments, “First-time buyers have been increasingly active in the market and lenders are keen to support those with a proven track record in the technical aspects but also some management experience. I was thrilled to support Aneela in acquiring her first pharmacy. She is passionate about making a positive impact in the local community and it’s been a privilege to be part of her journey. I wish her all the success and am confident that the pharmacy will thrive under her exceptional guidance.”
The three pharmacies were sold for an undisclosed price.
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For further information on this press release, contact:
Phoebe Hill, Associate Director – Corporate Communications
P: 07540 063 598 or E: phoebe.hill@christie.com
Contact the agent:
Tom Young, Senior Business Agent – Pharmacy
P: 07831 133642 or E: tom.young@christie.com
Contact Christie Finance:
Alena Ray, Director
P: 07590 486 356 or E: alena.ray@christie.com
Visit Christie & Co’s Business Search page to find out more about current listings.