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University friends purchase popular North London pharmacy

A Tottenham pharmacy whose owners are retiring after 34 years running the business has been purchased by university friends after attracting “multiple offers”, a specialist business property adviser has announced.

Christie & Co yesterday (October 24) announced that Beautychem Pharmacy – “ideally located on a busy parade” in Tottenham and less than a mile from the “spectacular” new football stadium - was sold to university friends Huseyin Akpinar and Nabeel Patel.

A standard hours community pharmacy that dispenses around 6,576 items per month, Beautychem Pharmacy was previously owned by Kiran and Nita Patel who purchased it in 1989.

Read more: ‘Young’ distance-selling pharmacy owner picks up Manchester pharmacy

The business, which was sold for an undisclosed price, was brought to market to allow them to retire.

Christie & Co director of pharmacy Mark Page, who handled the sale, said that the “busy” pharmacy attracted “multiple offers”, reflecting “the strength of appetite for quality, profitable, owner-operated independent pharmacies in London and the South East.”

 

"New adventures”

 

Former owner Mr Patel said it has “been a pleasure serving the Tottenham community over the last 34 years” and that while he had “seen many changes in the pharmacy profession…the constant has been the customers and the respect they have for what each independent pharmacy does for them.”

“Only now, when you retire and reflect, you realise the impact pharmacists have made in the community with all the messages and good wishes I have received from my customers,” he added.

Read more: ‘Really proud’: Welsh Well pharmacy bought by 29-year-old pharmacist

And he said that the business “wouldn’t have been successful” if it weren’t for the “wonderful staff” he had worked with over the years.

“It’s the right time to retire and let the new generation take the pharmacy forward and we can pursue new adventures,” Mr Patel added.

It comes after Christie & Co announced earlier this month that a bricks-and-mortar pharmacy in a Manchester suburb had been bought by a distance-selling pharmacy owner within 48 hours of hitting the market.

 

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