10/24/2017 | Pharmacies

Two Scottish pharmacies sold by Christie & Co

Specialist business property adviser, Christie & Co, has recently sold two community pharmacies – Aberdour Pharmacy in Fife and Garelochhead Pharmacy in Argyll.

Aberdour Pharmacy was owned by an independent operator who felt now was the right time to retire. The pharmacy was marketed for a four week period, at which point several offers were received, all in excess of the asking price of £475,000. A deal was agreed with Omnicare Pharmacy, a group operator based in Edinburgh.

Garelochhead Pharmacy, close to Helensburgh was an off-market transaction sold to the Davidsons Chemists group. Davidsons Chemists, based predominantly in the east of Scotland are now expanding into the west after opening Drymen Pharmacy and now the purchase of Garelochhead Pharmacy.

Karl Clezy, Director at Christie & Co handled both sales and comments, “Aberdour Pharmacy was only open part-time, dispensing on average 2,000 items per month and therefore gave the new buyers plenty of scope to extend the opening hours and increase profit. 

“It is by far a seller’s market in Scotland at the moment and with the right market advice and an agent who works solely on behalf of the seller, a higher than expected sale price can often be achieved.”