St Stephens Chemist
A Leicester pharmacy has been sold to a first-time buyer to allow for retirement.
St Stephens Chemist dispenses an average of 5,300 items per month and has been owned by Vinay Patel for over 25 years, with his brother’s pharmacy of the same name sold earlier this year too.
Read more: Gross profit margins hit 10-year high from pharmacy sales in Wales
Piyush Patel bought the pharmacy and Christie & Co pharmacy director Carl Steer said “demand far outweighs supply” in the area.
“Demand remains high for pharmacies of all sizes across Leicestershire, with some of the highest prices being paid in England, even keeping up with much of the capital. So once an opportunity arises, a deal is usually agreed within a few weeks,” he said.
Adrian Thomas Pharmacy
A Welsh pharmacy has been sold to an English group operator.
Adrian Thomas Pharmacy is in the university town of Lampeter and has been sold so Thomas can retire.
Read more: Buying + Selling: A 22-day sale, NI group operator expansion, and South Wales updates
It dispenses a high 13,069 items per month on average and a group operator in the West of England looking to expand further has purchased it.
Hutchings associate director Paul Steet said Thomas “decided the time was right to embrace a new chapter” as he wanted to “explore new opportunities beyond pharmacy, making this a well-timed sale for both the vendor and the purchaser”.
Carters Chemist
A Greater Manchester pharmacy group has bought a pharmacy in the city’s suburb to allow for retirement.
Carters Chemist in the Brooklands area has been bought by Zemme Chemist Ltd which now owns nine branches across Greater Manchester.
It dispenses an average of 6,800 items per month and is located in a residential housing estate close to a GP surgery.
Read more: ‘In a good place’: Christie backs strong pharmacy market
Former owner David Carter said “after 56 years of serving as a pharmacist, I was keen to sell to an independent local group who would develop the business with all the new opportunities available. My sister, Gill, has managed the pharmacy for 38 years and has done a wonderful job of running the business.”
Christie & Co pharmacy director Jon Booth said “over 100 enquiries and six offers” were submitted within three weeks of the pharmacy going to market as there are “so few opportunities of this type being in the market at that time”.
Wilsons Chemist
A Wirral pharmacy sold to a first-time buyer is the final sale of a five-strong group sold in the north west.
Wilsons Chemist dispenses 8,947 items per month on average at its West Kirby location and it has been sold by Greencross Pharmacies Group after other branches were sold across the Wirral and Greater Manchester to allow for the director to retire.
Greencross Pharmacies director Daniel Wong said he had decided to sell the branches at the end of 2022 but “market conditions in 2023 were not ideal for pharmacy sales, particularly due to the large-scale sale of Lloyds Pharmacy branches taking place at the same time”.
“As the pharmacies were located across the North West of England, it was more practical to sell most of them as asset sales,” he added.
Stifford Pharmacy
An Essex pharmacy has been bough by a small pharmacy group.
Pharmazone Limited own several pharmacies in the south east of England and bought Stifford Pharmacy in Thurrock located on a busy high street within one mile of two health centres and a hospital.
Read more: Big interview: Christie & Co’s Jonathan Board – ‘The enthusiasm is fantastic’
It dispenses an average of 4,400 items per month and Tauqir Hassan of Pharmazone said the location made it a “great strategic move” due to its proximity to one of its Grays branches.
“Knowing the area, we are well-positioned to utilise our relationships with the local surgeries and help provide a well-rounded service to patients, improving their experience and ensuring the care they need,” he said.
City Road Pharmacy
A Bradford pharmacy has been sold to a local family pharmacy group.
Siddique Pharmacy Limited bought City Road Pharmacy to add to the four pharmacies it owns across Bradford and Halifax, with outgoing owner Rekha Taheem retiring after 20 years owning the pharmacy.
It dispenses an average of 8,784 items per month from its shopping parade location and the purchase supports new owner Mo Siddique and his three pharmacist children’s plans to grow their portfolio.
Read more: Inside the deal for Allied and Jhoots Pharmacy
Siddique said they will “ensure continuity throughout our ownership while maintaining the trust and relationships Rekha has built over the years”.
Christie & Co pharmacy director Jon Booth said “Bradford has historically been a difficult market in which to sell” but is pleased to see the pharmacy “end up in the hands of a well-established family group where the second generation of pharmacists are now looking to grow via strategic acquisitions”.
Health & Beauty Pharmacy
A Buckinghamshire pharmacy has been sold to allow for retirement.
Health & Beauty Pharmacy in Gerrards Cross dispenses around 6,393 items per month and has strong over-the-counter sales from its high street location.
After the sale was “complex and involved several parties”, the Gautama family sold the pharmacy to an expanding regional pharmacy operator after owning it for two generations.
Somerby Pharmacy
Two Leicestershire pharmacies have been sold for the owner to travel with his family.
Somerby Pharmacy group sold its branches in Oadby and Kibworth to an East Anglian-based investor, with former owner Romin Tayub owning them for six and three years each.
The Oadby branch is a distance selling pharmacy (DSP) dispensing 10,000 items a month on average while the Kibworth branch is a bricks-and-mortar pharmacy dispensing around 12,000 items per month.
Read more: Buying + Selling: Hutchings UK market updates, Cohens acquisition and Scottish market exit
Christie & Co pharmacy director Carl Steer said the sale of the DPS was agreed before the Kibworth branch was incorporated as part of the sale.
“The sale of the Oadby pharmacy is particularly noteworthy, representing one of few DSP pharmacy transactions to be completed in the county for a significant value,” he added.
Holmfield Chemist
A Derbyshire village pharmacy has been sold in a quickfire sale.
Holmfield Chemist in Codnor dispenses around 6,050 items per month on average and a sale was agreed within a week by Hutchings.
Sure Health Limited pharmacies
Three Birmingham pharmacies have been sold to one buyer to allow for retirement.
Sure Health Limited sold Balsall Health Pharmacy, Shire Pharmacy and Attwood Green Pharmacy in Birmingham with them dispensing 6,250 items, 3,500 items and 8,300 items per month on average.
Read more: ‘Strong market’: Eight in 10 plan to buy and/or sell pharmacy by 2028
New owner Mo Naheem now owns four pharmacies.
Balsall Health and Attwood Green are both located in medical centres, and Christie & Co pharmacy director Carl Steer said Birmingham and the West Midlands “remains a hotbed of activity for pharmacy sales with demand far outstripping supply”.
Swindon Pharmacy
A high-dispensing pharmacy has been sold in Swindon to an “expanding operator”.
Swindon Pharmacy is based in a health centre and dispenses around 18,870 items per month on average.
Hutchings director Alan Akerman said the pharmacy attracted nine offers and the buyer is looking to “grow its presence within the sector”.
Queens Park Pharmacy
A high-dispensing Bournemouth pharmacy has been sold to a Devon pharmacy owner.
Peter Boakye now owns Queens Park Pharmacy after previous owner Rajesh Kerai decided to spend more time with his family after owning the pharmacy for over 22 years.
Read more: Seller instructions rose by 91%, reveals pharmacy brokers
Kerai said he “couldn’t be happier with who has taken it on and am sure they will make a success of it going forward”.
Boakye currently owns Lynton Pharmacy in Devon and will take over Queens Park that dispenses around 12,700 items per month and offers home delivery for prescriptions.
Nightingales Pharmacy & York Pharmacy
Two Worcestershire pharmacies have been sold to allow for retirement.
York Pharmacy in Stourport on Severn and Nightingales Pharmacy in Kidderminster both dispense around 6,875 items and 6,360 items per month on average respectively.
The sale will allow the former owner to retire and spend more time with their family, said Hutchings.
Grand Pharmacy
An East Sussex pharmacy with a seafront view has been sold to a first-time buyer.
Grand Pharmacy in Eastbourne has been sold by husband-and-wife duo Afshin and Elham Eslamdoust after owning it for over 20 years as they begin their retirement.
The pharmacy has high footfall on a busy parade close to the town centre and dispenses an average of 5,615 items per month.
Read more: Pharmacy chain selling over half its estate for £3.2m
It started to specialise in travel vaccinations and other private services, and new owner Dipen Patel says he’s looking forward to “growing the pharmacy by offering services such as ear-wax removal and expanding our range of products”.
The Eslamdoust’s said “we are incredibly proud of what Grand Pharmacy has achieved and grateful for the loyalty and support of our patients over the years”.
Brook Pharmacy & RJ Berry Pharmacy
Two Portsmouth pharmacies have been sold as the previous owners “move on” from community pharmacy.
Brook Pharmacy dispenses around 4,730 items and RJ Berry Pharmacy dispenses roughly 8,801 items per month on average respectively.
Hutchings associate director Paul Steet said the previous owners are now “looking forward to focusing on new business ventures while spending more time with their young and growing family”.
All pharmacies were sold for undisclosed prices.
