Independent buyers snap up six southeast pharmacies
Independent buyers have bought six pharmacies across London and Surrey over the past three months, according to specialist business property adviser Christie & Co, signalling that demand from autonomous owners is still buoyant in the sector.
Two of the pharmacies, Eagercare Pharmacy in Kingston upon Thames, and Hayes End Pharmacy in Middlesex, were purchased by first-time buyers, the broker revealed on Friday (December 15).
Independent pharmacy operator Pearl Chemists Limited purchased Tooting-based Barkers Chemist, while Regionchoice of Stepney, East London, was sold to the Greenlight Pharmacy Group.
Read more:Two London pharmacies sold in one week to trios of ‘experienced’ buyers
Surrey-based Ashford Lodge and Pharmacare of Richmond were both sold to local operators.
The sales of all six of the pharmacies were completed in the fourth quarter of this year, Christie & Co told C+D.
The sold pharmacies range from an average of 1,650 to 12,082 items dispensed per month, the broker reported.
The sale price for the pharmacies in question remains undisclosed.
“Demonstrates demand from independent buyers”
Christie & Co said that this latest series of sales “demonstrates demand from independent buyers for quality settings”. Pharmacy director Mark Page said that this shows that “the independent market remains as buoyant as ever”.
Read more: David and Goliath: Small chains now run more pharmacies than large multiples
He added that “demand [is] more than equalling supply”.
These sales are only the latest indication of demand for independent pharmacies. C+D reported earlier this year that “small” chains of one to five pharmacies now outnumber those owned by large multiples.
