Two Halifax pharmacies sold to pharmacist-GP pair
A property company has announced the sale of two GP-collocated pharmacies in Halifax, West Yorkshire.
Previous owner-operators Rajeev Dhand and Ivan Ng decided to sell the pharmacies – one in a Kos clinic in Hipperholme and the other at Northowram Surgery – in order to concentrate on another pharmacy business in Leeds, as well as other business interests.
The pharmacies, both of which trade under the Medichem brand, dispense around 20,000 items a month between them. They were bought for an undisclosed price by pharmacist director Jeet Vadodaria and his partners, who include the principal GP at the two surgeries.
The pair own another pharmacy in Leeds, which they acquired in 2021. They plan to develop vaccinations and other services in the newly acquired sites, and to redevelop the Hipperholme site.
Mr Dhand said: “We had a competitive bidding process for the Halifax sites when they were launched to the market.
“The new owners inherit a pair of excellent pharmacies and I have no doubt that with the plans they have for developing the business, they will become even more successful with such a strong base to begin. Ivan and I wish the new owners and the staff the very best for the future.”
Mr Vadodaria commented: “This completion proves that independent pharmacies with a strong operational base and an enthusiastic business plan for the future still attract the lenders and allow ambitious owners to expand their existing portfolios.”
Jon Booth of Christie & Co, who handled the sale, said: “These two pharmacies received a great deal of attention when we launched them to market as they are located very close to one another and have above-average dispensing volumes.
“High-quality assets of this type still remain rare to the market across West Yorkshire and, despite the ongoing uncertainty both within the sector and the wider economy, we are still experiencing robust levels of interest for these types of opportunities.”