This site is intended for Healthcare Professionals only

Lalys Pharmacy buys freehold of pharmacy in Portsmouth

Business news

Lalys Pharmacy buys freehold of pharmacy in Portsmouth

The parent company of regional chain Lalys Pharmacy has bought the freehold of a pharmacy in Portsmouth.

JCL UK Ltd, which runs pharmacies in Hampshire, Dorset and Surrey, completed a deal for City Pharmacy (pictured) in the North End area of Portsmouth. It dispenses an average of 6,900 items a month and it was purchased for an undisclosed amount.

Christie and Co, who brokered the deal, said Nyewood Healthcare, who owned the pharmacy for more than 25 years, decided to sell “to concentrate on their two remaining pharmacies in West Sussex.”

“It took a while to decide to market one of our businesses, albeit confidentially, as we have owned them for many years,” said Claire Johnson, the superintendent pharmacist of Nyewood Healthcare.

“We were fortunate to receive good interest in the pharmacy from the early stages, and I am delighted with how things went. I feel I had excellent guidance throughout the process and am very happy with the result.”

Nyewood Healthcare received legal advice from PDT Solicitors and Charles Russell Speechlys did the same for JCL UK Ltd.

Lalys Pharmacy director Raj Laly said: “We are delighted to continue the expansion of our group in Portsmouth as we currently operate right across Hampshire, Surrey, and Dorset.

“We look forward to integrating the business into our group and improving the services on offer at this well-established community pharmacy.”

Jonathan Board, director-medical at Christie and Co, said, “This well-located community pharmacy appealed to a wide range of buyers and was typical of what is currently in demand – pharmacies with a healthy level of prescriptions, a good level of footfall, and space for the delivery of additional services.

“Despite ongoing operational challenges in the marketplace, it is showing remarkable resilience and there remains significant demand for well-established, well-located pharmacies such as this one.”

Copy Link copy link button

Business news