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Pharmacy chain puts one third of sites up for sale for £1.8m

The chain is selling five pharmacies across the north west following a 'strategic review' of its portfolio.

Sykes Chemist Group has put five sites up for sale and is looking to fetch a combined £1.845m.

The tranche represents one third of the group. Christie & Co is handling the sale on an individual, group, or sub-group basis.

Sykes is hoping for bids by midday on July 19. The chain will have nine branches remaining if sales are completed.

Read more: Tourist town pharmacy ‘lifestyle business’ sold to first-time buyer

Four of the sites are in Bolton: Gatleys Pharmacy on Tonge Old Road, Haslams Pharmacy on Halliwell Road, Rigbys Chemist on Swan Lane, and Howards Pharmacy on Chorley Old Road. The remaining site, Paradise Street Pharmacy, sits within Pals Health Centre in Accrington. 

Read more: Whitworths sale to be completed 'mid-2024' according to annual report

Last month, Christie & Co sold a tourist town community pharmacy in Inveraray, Argyll, to a first time buyer.

And independent family-owned chain Whitworth Chemists revealed in its annual report that the sale of its 34 pharmacies will be completed by “mid-2024” after reporting a £1.8m pre-tax loss, despite rising revenues.

Other commercial properties on the market include The Pharmacy Café in Devon which originally opened as a pharmacy in the Victorian era but now sells cakes and cream teas.

Read more: Prescriptions to paninis: 'Iconic' pharmacy café on the market for £55k

Last week (June 28), C+D revealed that Boots were planning up to 69 more store closures in the UK after closing 581 branches since 2019.

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