Northern pharmacy chain to sell 16 branches

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Northern pharmacy chain to sell 16 branches

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A small chain of pharmacies in the North of England is selling off most of its estate after six years in business.

The Hub Pharmacy, which describes itself as a chain of 17 pharmacies on its website, has put 16 branches up for sale, property company Christie & Co announced today.

The company began in 2015 through a management buyout of MedicX Pharmacy Ltd, which consisted of nine pharmacies at that time, and has reached its current portfolio size “through a combination of single and group acquisitions” with clusters in Warrington, Halifax, Rochdale and Greater Manchester, said Christie & Co.

Most are either located within health centres or are close to GP surgeries.

The Hub Pharmacy is seeking interest on the entire chain, a subgroup or individual pharmacies “with most being sold by way of asset sales”.

Andrew Butterworth, financial director at The Hub Pharmacy, commented: “We established the business in 2015, starting from just nine sites. Six years later, we have created a portfolio of pharmacies with potential for further growth and are proud to be serving our local communities across the North of England.

“In bringing the pharmacies to market, we are looking for buyers to continue the development of the pharmacies, all of which provide excellent opportunity for growth.”

Tony Evans, head of pharmacy at Christie & Co, added: Occupying either health centre, health centre adjacent or prominent community positions, the pharmacies are part of one of the highest quality and well invested pharmacy estates in England and offer prospective purchasers the opportunity to acquire corporate-style pharmacies rarely available in the marketplace.

“With interest invited on a group, subgroup, or individual basis, we expect to generate early interest from independent contractors and multiple operators alike.”

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