Pharmacy chain sells branch to first-time buyer
A pharmacy chain that has more than 50 sites in the UK has sold one of its branches to a first-time buyer.
Sharief Healthcare Ltd sold North Yate Pharmacy, which dispenses an average of 6,300 items a month and is situated in Wellington Road Surgery in Yate in north Bristol, to pharmacist Pooi Chong for an undisclosed figure.
Christie & Co who brokered the sale said the owners who are based in the North West felt the pharmacy "would be better suited to a local owner".
“North Yate Pharmacy is my first pharmacy purchase, and I can’t wait start to grow and build on the business that already exists. I am looking forward to becoming the face of the business and developing the delivery of healthcare in the local area,” said Mrs Chong.
Jonathan Board, the director of medical at Christie & Co who handled the sale, claimed the company sold £32.5m worth of pharmacies in the South West and South Wales last year.
"I am very pleased to have sold the business to Pooi, who I’m sure will make a great success of this well-located pharmacy. North Yate Pharmacy is an excellent example of exactly what buyers are looking for in a pharmacy purchase - a good location, a healthy turnover but with room for growth," he said.
"As with most corporate disposals where they are run under management, I’m sure there will be an uptick in trade for Pooi, as the new owner operator."