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Three Leicester pharmacies sold in excess of guide prices


Three Leicester pharmacies sold in excess of guide prices

Lads Chemist, one of three Leicester pharmacies that has recently been sold

The recent sales of three standard hours community pharmacies in Leicester are evidence of the “robust appetite” among buyers in the region, a specialist property adviser has said.

Sonichem Pharmacy, Lads Chemist and Health Serve Pharmacy all “swiftly attracted multiple offers and completed in excess of their guide prices,” said Christie & Co as it announced the deals. It did not disclose how much the pharmacies sold for.

Sonichem Pharmacy, an 18,000-items-per-month pharmacy in Braunstone, was sold on a freehold basis to an East Midlands operator “with more than 12 units,” said Christie & Co, while 5,700-items-per-month Lads Chemist in Evington was sold on a leasehold basis to “an experienced buyer who operates several retail and pharmacy businesses” in the region. 

Health Serve Pharmacy, which is based in Highfields and dispenses an average of 3,800 items per month, was sold on a leasehold basis to a first-time buyer based in Leicester.

The previous owners of all three pharmacies plan to retire or pursue semi-retirement, said Christie & Co.

Christie & Co’s Carl Steer said the completions “follow a raft of sales we’ve worked on in the county over the last three years,” adding that they demonstrate “the robust appetite for Leicestershire pharmacies”. 

"The pandemic saw a slow-down in an appetite to sell, for obvious reasons, but with the burgeoning of our applicant database, and a good appetite from banks to fund the pharmacy sector, we have a perfect blend for anyone considering a sale.

“Leicestershire, especially, is achieving some of the best levels of interest and offers seen across the whole of the Midlands region.”

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