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Manchester pharmacy bought by DSP owner after ‘incredible’ interest from buyers


Manchester pharmacy bought by DSP owner after ‘incredible’ interest from buyers

A high street pharmacy three miles north of Manchester City Centre has been sold to the owner of a distance selling pharmacy (DSP) who says he wishes to integrate the new acquisition into his online business.

Higher Crumpsall Pharmacy was sold for an undisclosed price within 48 hours of being listed, said broker Christie & Co, which said there had been an “incredible response” from prospective buyers. Local DSP owner Nissar Ahmed acquired the business from Roger Lee, who plans to retire.

Mr Ahmed plans to undertake a full refurbishment and move his existing business into the site.

Mr Lee said he challenged Christie & Co “to find me a buyer and complete the deal so that I could retire ahead of my seventieth birthday in November of the same year”.

“I think we were all surprised with the result when we launched – a viewing on the first day and a deal done within 48 hours,” he added. “I am pleased to see the pharmacy go to an energetic, young contractor with a well thought out plan for the future.”

New owner Nissar Ahmed commented: “When this opportunity presented itself, it was perfect for me to realise my long-held plan of acquiring a standard hours contract pharmacy which I could essentially move my internet pharmacy business into and hopefully over time integrate the two businesses.

“My team and I are looking forward to the challenge which begins with investing in the site from top to bottom, so watch this space.”

Tom Young, business agent at Christie & Co, added: “We had an incredible response to the launch of this pharmacy opportunity – we received over 45 enquiries within the first few hours of marketing. Nissar was very keen to view by the end of day one and, shortly after, the deal was done.

“We have seen a marked increase in deals across Greater Manchester in the last few years to DSP owners, often they just want a contract which is in a unit that offers them the space to move their existing operation into.

“As such, if the location is right they are willing to pay premium prices against other potential buyers. The sale of Higher Crumpsall, with its circa 1,150 items, illustrates that with the right approach to marketing a pharmacy business there is a buyer for opportunities of any shape and size.”

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