Two established South West London chemists sold to expanding business
Specialist business property adviser, Christie & Co, has announced the sale of Underack Ltd which comprises Westbury Chemist and Baba Chemist in South West London.
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Combined, the chemists dispense an average of 23,021 items per month, and both are run under management. Westbury Chemist is located on a busy high street in Streatham, and Baba Chemist is in Tulse Hill, South West London. Both businesses benefit from a healthy footfall.
Underack Ltd was previously owned by Mr Raj Gathani who, after many successful years, decided to retire.
Speaking on behalf of the company, Mr Gathani comments, “We were delighted to work with Christie & Co and Jack Chard in particular to sell a historic pharmacy business in South West London. Jack found a committed and high-quality buyer very quickly. He then helped manage a lengthy sales process through two lockdowns. Jack and the Christie & Co team were ever-resourceful and found practical and commercial solutions to the complexities that Covid-19 created for deal-making. Credit to Jack for his tenacity and commitment to getting the deal through.”
Underack Ltd has purchased by Rotamol Ltd. Speaking on behalf of the company, Mr Wole Ososami comments, “We are delighted to have completed on the purchase of these two chemists. This gives us the increased ability to serve customers in the area better. We are also in a position to benefit from improved efficiency and increased buying power which helps to grow our business. Well done to Jack and the team at Christie & Co.”
Jack Chard, Senior Agent at Christie & Co, who handled the sale, comments “I am thrilled with the completion of Underack Ltd, it was a pleasure to work on a deal where both the sellers and buyers were reasonable and always looked for solutions. I hope Mr Gathani has a wonderful retirement and I am sure Wole and his team are going to revitalise the pharmacies and form an impressive and profitable portfolio.
“I would also like to thank Chris Peace from Knights plc and Alex Robson from Clarke Mairs LLP for all their hard work on the deal, which was invaluable to the process.”
Underack Ltd was sold at an undisclosed price.
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com
Contact the agent:
Jack Chard, Senior Agent
P: 07590 486 349 or E: jack.chard@christie.com