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Scunthorpe pharmacy sells for ‘well in excess’ of guide price

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Scunthorpe pharmacy sells for ‘well in excess’ of guide price

A standard hours pharmacy in North Lincolnshire has been sold to a first-time buyer for “well in excess” of its guide price, property company Christie & Co has said.

Ashby Pharmacy in Scunthorpe was sold to pharmacist Tech Ding, who said he has a “bright plan” for the business and aims “to build on the existing success of the business and to introduce more services at the pharmacy to provide the best quality of care to the local population”.  

Mr Ding bought the pharmacy from Roshban Ltd, which acquired it from LloydsPharmacy in 2019 and gave it a rebrand, but now wishes to “concentrate on its other sites” according to Christie & Co.  

Jon Booth of Christie & Co, who handled the sale, commented: “The speed at which we achieved competing bids in excess of the guide price on Ashby even took me by surprise.

“This is a perfect first-time buyer, owner-operator opportunity and I wish Tech the best of luck.

“Businesses of this type and profile almost anywhere in the North of England are sure to garner a great deal of interest right now.

“Despite the current macro-economics and headwinds facing the sector, the market for single-site pharmacies of this shape, size and price remains incredibly healthy.”

Roshban managing director Yassir Sharief said: “Since purchasing Ashby from Lloyds in 2019, we have grown the business and improved some of the property elements of the unit, not least decreasing the size of the shop into one rather than two adjoining units with no detrimental effect to trade.

“When we instructed Christie & Co it was pleasing to see such a quick and highly competitive bidding process ensue.

“We are pleased that the business is now in the hands of a young and enthusiastic first-time buyer who I am certain will be successful in taking the pharmacy to the next level. We wish Tech and all the staff the very best for the future.”

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