The broker looked at buyers’ registration data it collected through its website and reported a 46% increase in pharmacy registration figures between April 27 and June 22.
This coincides with the period during which the UK government started announcing a partial ease to its lockdown measures, Christie & Co said in a statement last week (August 6).
“[We] expect this general trajectory of increased activity to be maintained, particularly as banks begin to focus more actively on new lending,” it added.
The pharmacy market “has continued at a stable pace”, despite the new challenges the sector has faced since the beginning of the pandemic, the broker said. Between March and the end of June, Christie & Co “successfully negotiated 81 sales, following receipt of over 210 offers against pharmacies it has for sale”, it added.
Christie & Co also put up 26 pharmacy for sale and exchanged or completed on 32 sales during that time. It agreed 22 sales in July, which shows “the ongoing appetite and confidence in the sector”, it said.
Sector ‘fared better’ than many under pandemic
The pharmacy sector “fared far better than many” despite the “significant pressure” it has experienced since the beginning of the pandemic, Tony Evans, head of pharmacy at Christie & Co, said.
“The £370 million of advanced funding provided throughout the pandemic has been much needed support, although it is yet to be understood as to when and how this will be reconciled in the future,” he added.
“Regardless of this, alongside the heightened profile pharmacy has generated over recent months, the appetite for pharmacy opportunities has grown and this is evidenced by the sales volumes we have witnessed.”
Christie & Co told C+D in June that demand “remained in line” with expectations, despite the COVID-19 pandemic.