3/30/2017 | Pharmacies

Two London pharmacies sold to expanding local operator

Specialist business property adviser, Christie & Co has brokered the sale of a group of two London pharmacies in Richmond and Stoneleigh, both which operated under the name of Nima Pharmacy.

Having sadly passed away in 2015, the previous owner left his share of the business to his family with the eventual sale overseen by his son, Kush Amin. He previously owned a larger group having started to build the business in the 1970s.

The buyer of both pharmacies is local pharmacy owner, Jaymil Patel who also owns Anna Pharmacy in nearby Carshalton. The sale was financed through Nick Baker of Christie Finance.

Mark Page, Director at Christie & Co who handled the sale comments, “We are delighted to have assisted the Amin family in the sale of their two pharmacies. The new owner has plans to develop and improve both businesses and we wish both parties the best of luck in their future plans.

“This sale highlights that despite the pharmacy funding cuts implemented recently by the government, the pharmacy market has not slowed down and existing owners are still actively looking to expand their businesses, as well as there being a wealth of new purchasers looking to make their first acquisition.”

The group was sold off a guide price of OIEO £1.9m.