Pharmacies

Christie & Co is the UK’s leading specialist pharmacy agent with a team of special business agents offering advice on a national, regional and local basis. In 2017 we sold 93 pharmacies with a combined value approaching £90 million.

Click here if you're searching for a pharmacy for sale.


So what do we offer?

Purchasing a pharmacy?

Why not register on the website now for details of what we have for sale? It costs nothing and we'll email you new instructions when we take them, free of charge and automatically. 

Alternatively please don’t hesitate to contact one of the pharmacy team to talk through your requirements and to obtain an understanding of market dynamics in your area.

We can also advise on all aspects of the purchasing process and help you raise funding through our sister company Christie Finance

Selling a pharmacy in the next 5 years?

It is important to seek professional advice at an early stage. Our local specialist Business Agent will visit you at a convenient time and talk you through the sale process so that you can make an informed decision when the time is right. They will also liaise with your other advisers to ensure advice is tailored to your own personal circumstances.  

Initial marketing advice is provided free of charge, without obligation and on a strictly confidential basis. Our agents will meet with you at a convenient time either inside or outside business hours so complete discretion is assured.

For an honest view of the market and expert advice on how to achieve the best price for your business, get in touch with one of our pharmacy specialists or call our Head of Pharmacy, Tony Evans, for an initial discussion on the above number.  

Formal valuations and a range of other services

Our team of Chartered Surveyors across our 16 office network offers a range of valuation and property related services to the pharmacy sector. These include:

  • Accredited 'Red Book' valuations for loan security purposes
  • Valuations for partnership set up and incorporation
  • Dispute resolution/expert witness assignments
  • Rent reviews for landlord or tenant
  • Freehold 'bricks and mortar' valuations
  • Asset reviews for estate portfolios
  • Consultancy services to support relocation
  • Rating Advice 

Our team of valuers work with a wide range of clients from independent operators through to the largest corporate clients. With access to up-to-date transactional evidence, they understand the nuances of the market and factors affecting it.

For initial advice to discuss the services we provide please contact either Christopher Vowles or Tony Evans.

8.1%

Movement in average prices year on year

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Pharmacies for sale

Market view – 2018 set to be another busy year

Pharmacy Market Update – Q1 2018

The market has been extremely active over the past year with little sign of it slowing down. Our team has seen a record increase in sales activity – up 31% on the previous year, and is expecting activity to remain strong into 2018. 

Overall we’ve witnessed an 18% increase in applicant registrations over the course of 2017, fuelled by an increasing number of first-time buyers on a drive for ownership. At the same time, banks have continued to regard pharmacy as a positive sector and liquidity has been invigorated by the addition of a number of the new challenger banks keen to reap the rewards the market has to offer. Family funding – the bank of mum and dad – also remains a significant source of investment. 

However, this year the pharmacy sector has faced multiple challenges, most notably funding cuts introduced by the Department of Health and the £180 million Category M clawback. With the clawback following hot on the heels of the funding cuts it is likely that this will continue to squeeze cash flow and operating margins as we progress through 2018. 

With these amongst other pressures, pharmacy operators have had to continue to review the efficiencies of their businesses to ensure that they protect profitability. 

Purchaser appetite during 2017 continued at levels consistent with those generated prior to the cuts, with many purchasers viewing the market with long term confidence. Throughout the year we saw enquiry levels steadily increase, particularly from first-time buyers. In the main, these were locums and pharmacy managers, who have been spurred on in their drive for ownership, as their employers seek to mitigate costs by implementing initiatives to include reducing staff hours and locum rates.  

In October LloydsPharmacy announced the closure/sale of 190 of its stores, citing the funding cuts, as well as higher business rates for creating market conditions that were too challenging. 
 
The impact of the funding cuts will certainly be felt by pharmacies throughout England; however, contractors may seek some reassurance in the fact that market activity and appetite remain strong and when a pharmacy does come to the market, there is a large pool of motivated buyers out there readily seeking opportunities. Such has been the demand in the market that we have regularly seen competitive bidding resulting in premium offers, factors we expect to continue into 2018 as we predict the number of businesses for sale will increase. 

Private equity continues to circle the sector looking to implement a buy and build strategy to consolidate the market. New players also emerged in 2017 with Juno Health Ltd’s, maiden acquisition of Ashchem Limited, a 15 strong pharmacy business in October. Bridges Fund Management continues to grow its presence as it invests through its Hub Pharmacy business. More recently, we have seen interest expressed by investors from other businesses outside of pharmacy, looking to obtain a presence in the sector through joint venture initiatives with existing multiple operators, something we expect will crystallise in 2018.


Movement in average prices, year on year